Bangladesh has emerged as a global leader in sustainable ship recycling, now ranking second worldwide with 17 ship recycling yards authorized by the International Maritime Organization (IMO).

This milestone reflects the country’s ongoing transition toward environmentally compliant and safer shipbreaking practices, aligning with international standards such as the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships.

The authorized facilities are primarily located in Chattogram, which remains the hub of Bangladesh’s ship recycling industry. The sector plays a critical role in supplying raw materials, particularly scrap steel, to the domestic construction and manufacturing industries, supporting industrial growth and reducing import dependency.

The recognition of these authorized ship recycling yards signals improved compliance with environmental, safety, and labor standards, enhancing Bangladesh’s credibility in the global ship recycling market. It also positions the country to attract higher-value vessels from international shipowners seeking certified recycling destinations.

The development is expected to strengthen Bangladesh’s competitiveness in the global shipbreaking industry, where it is already one of the leading players. Continued investment in infrastructure, worker safety, and regulatory enforcement will be essential to sustain this momentum and expand the number of compliant facilities.

As global demand for responsible ship recycling increases, Bangladesh’s progress in achieving IMO authorization highlights its potential to lead in green industrial practices while supporting economic growth and circular resource utilization.

Source: The Business Standard