All eyes are now on Tsuneishi Shipbuilding's reported $300m investment in a new 'green' shiprepair yard in the Philippines.
The project marks the biggest single investment in a recycling facility since 2009, when the Hong Kong Convention for the Safe and Environmentally Sound Recycling of Ships (HKC) was agreed.
ClassNK has already approved the proposed yard plans and demolition method as being compliant with the HKC, which has yet to enter into force.
