Ship Recycling and Green Steel Recovery

As part of the increasing tendency towards emission-free shipping traffic, we expect more activity in the field of ship scrapping in the upcoming 10 years. It is particularly noteworthy that the amount of ship recycling is expected to double. About 15,000 ships with a total transport capacity of 600 million tons (compared to 7,780 ships with 285 tons in the last decade) are intended to be scrapped. New regulations define clear standards for environment-friendly and safe ship recycling. At the same time, steel industry, one of the major CO2 emission sources, is facing the challenge to reduce their emissions by about 30 percent until 2030 as agreed in the Paris Climate Treaty of 2015. About 85 percent of the CO2 emissions in steel production are a result of the blast furnace process.

As part of the increasing tendency towards emission-free shipping traffic, we expect more activity in the field of ship scrapping in the upcoming 10 years. It is particularly noteworthy that the amount of ship recycling is expected to double. About 15,000 ships with a total transport capacity of 600 million tons (compared to 7,780 ships with 285 tons in the last decade) are intended to be scrapped. New regulations define clear standards for environment-friendly and safe ship recycling. At the same time, steel industry, one of the major CO2 emission sources, is facing the challenge to reduce their emissions by about 30 percent until 2030 as agreed in the Paris Climate Treaty of 2015. About 85 percent of the CO2 emissions in steel production are a result of the blast furnace process.