| Summary: | This report includes an overview of the ship recycling market by providing descriptive statistics, describing the determinants for the decision of ship-owners to demolish vessels, and elaborating on the main market players and the economics of ship recycling. It furthermore provides an outlook of demolition volumes based on ship value estimates, and assesses the impact of the latest implemented international regulation - the Ballast Water Management Convention - on the industry. Since this market faces challenges to recycle vessels in an environmentally sustainable and health-protecting way, the report offers ideas to help solving these difficulties by looking at policies implemented in other industries. Special focus is given to the aircraft and vehicle industries as their characteristics in terms of recycling approach and earnings model are relevant to ship recycling. Most of the presented policies and initiatives have at least one aspect in common, namely the shared responsibility throughout the supply chain
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