Ship Recycling Policy

Responsible Ship Recycling Policy

Safe working conditions and environmental protection are key priorities in Epic Gas' operations.

Epic Gas is committed to conducting business in a legal, ethical and socially responsible manner. Epic Gas' business model involves operating a modern fleet, with sale or redelivery of vessels long before end-of life. Should the Company face situations where recycling of a vessel is relevant, the following standards are applicable. 

Overall Approach

Epic Gas supports the ratification of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (“the Hong Kong Convention”), the EU Ship Recycling Regulation (“SRR”) and the Basel (“Basel”) Convention, which bans export of hazardous waste from OECD countries to non-OECD countries.

Epic Gas will act in accordance with the SRR in relation to all European flagged vessels, and the Basel and Hong Kong Conventions for all other vessels to prevent and minimise risk and potential harm to people and the environment caused by ship recycling operations.

Epic Gas are proactively working to complete an Inventory of Hazardous Materials (IHM) for all vessels in our fleet within 2020.

Criteria For Recycling Of Own Vessels

In case an Epic Gas-owned vessel is to be recycled, Epic Gas will select a vetted recycling facility based on thorough reviews and inspections. The facility must hold a statement of compliance in accordance with the Hong Kong Convention and/or the SRR as applicable, and be able to present a statement of compliance with all applicable environmental and social regulations awarded by a competent and independent party.

In areas of environment and health & safety issues, Epic Gas' standards must as a minimum comply with the Hong Kong Convention. By actively participating in the Maritime Anti-Corruption Network, Epic Gas has high standards in areas of anti-corruption. Epic Gas will arrange to monitor the recycling process, and Epic Gas' Whistle-blower procedure provides safe access for internal and external parties to report existing or potential violations of laws and regulations, Epic Gas policies and guidelines, or other serious irregularities.

Criteria For Sale Of Vessels

In cases where the proposed sale of a vessel may possibly lead to near-term scrapping, a clause must be applied to the contract specifying responsible recycling practices. The clause must specify that if the buyer wishes to recycle the vessel, this must be done at a facility in accordance with the applicable Convention.

Furthermore, the clause must specify that the buyer is required to include the same contract clause with its buyer, if the vessel is resold within 6 months from the date of purchase. Epic Gas will monitor the vessel location for 6 months and reserve the right to take legal action.

The same principles apply for vessels in J/V where Epic Gas' ownership is at least 50%.

Epic Gas is working to have an Inventory of Hazardous Materials (IHM) for all vessels within 2020, as well as other relevant documentation to the buyer of such vessels to ensure responsible recycling and compliance with the regulations of the Hong Kong Convention.