Altera Infrastructure joins Ship Recycling Transparency Initiative

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(Image Courtesy: Sustainable Shipping Initiative (SSI))

On Tuesday (March 24, 2020), Altera Infrastructure joined the Ship Recycling Transparency Initiative (SRTI). Formerly part of the Teekay group of companies, Altera becomes the tenth shipowner to publicly disclose its approach to ship recycling, bringing the number of SRTI signatories to 24.

Altera continues an active participation in the SRTI Steering Group –previously maintained as part of the Teekay group– collaborating with sustainability peers across the shipping value chain that guides the Initiative’s strategy, positioning and development including The China Navigation Company; Forum for the Future; Hapag-Lloyd; Lloyd’s Register; A.P. Moeller-Maersk; NORDEN; Nykredit, Standard Chartered Bank; Stolt Tankers; and Wallenius Wilhelmsen.

President & CEO Ingvild Sæther said: “Continuing the SRTI membership under our new brand name was a matter of course. We want to take a leading position in the change we all need
to be a part of, and we believe openness and transparency are key in achieving this.”

Andrew Stephens, Executive Director of the Sustainable Shipping Initiative which hosts the SRTI, commented: “By publicly disclosing its approach, Altera is not only making clear its commitment to responsible ship recycling; it’s also raising the bar and contributing to a more transparent and accountable maritime industry.”

March has been a busy month for the SRTI, seeing the launch of the 2020 Report as well as the addition of Gard, the first insurer to join the SRTI.

Sea News, March 25