Faidon Panagiotopoulos Highlights Sustainable Ship Recycling at TMS Tanker Conference 2024

Faidon Panagiotopoulos, Trader at GMS, delivered an insightful presentation on Ship Recycling – A Journey Towards Sustainability at the TMS Tanker Conference on November 7th, 2024. He highlighted GMS’s pioneering Ship Recycling Supervision Program (SSORP), which estimates the carbon footprint of ship recycling, emphasizing its role in promoting sustainability. Faidon discussed the Hong Kong Convention (HKC), which will come into force in June 2025, setting the global standard for safe and environmentally sound ship recycling.

He showcased how ship recycling reuses over 97% of a vessel’s material, reducing carbon emissions by up to 75% compared to traditional steel production. With aging tanker fleets and minimal recycling, Faidon stressed that ship recycling is a sustainable solution for fleet renewal and global supply regulation. His session reinforced the importance of recycling in achieving sustainability within the maritime industry.

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