That said, in order to meet the third condition for the Convention to enter into force, the ratification of either Pakistan, China or Bangladesh would still be required since the rest of the countries’ combined gross tonnage does not total the required threshold.
In this respect, analysts surmise as a fair expectation the entry into force of the Convention in the near future, on the basis of the fundamental remodelling of the main Bangladeshi yards to comply with the Convention.
At the European level, in 2013 the EU approved the Regulation 1257/2013 of the European Parliament and of the Council on Ship Recycling, intending to boost and accelerate the ratification of the Hong Kong Convention both within the European Union and in third countries.
The Regulation 1257/2013 is applicable to large vessels flying the flag of a Member State, which by virtue of the same, shall only be dismantled in ship recycling facilities included in the European List.
Delving into the European List, it is noteworthy that inclusion is not restricted to solely European ship recycling facilities. Yards located in third countries will be allowed to apply and be incorporated to the List insofar as they fulfil the requirements laid down in the Regulation 1257/2013. As of January 2020, the European List encompasses a total of 41 yards.
As a brief summary of the most relevant duties of the Owners under the aforenoted Regulation, they will have to notify the flag state of their intention to demolish the vessel indicating the recycling facility, produce an Inventory of hazardous materials and secure a “Ready for recycling certificate”.