The effects of the global recession on shipping are being reflected in the number of vessels sent for recycling. The volume of tonnage sent for recycling in only the first montliof 2009 was more than 40% of the total recycled in the whole of 2006, says DNV. The demolition activity in 2008 reached 12.5m dwt which is nearly double the 2006 level of 6.4m dwt. In January this year, buyer activity had already reached 2.7m dwt purchased for demolition. In May, a new IMO guideline-"International Convention for the Safe and Environmentally Sound Recycling of Ships"-is to be adopted. Following the adoption of the new convention in May of this year, the demand for hazardous material inventories is expected to grow significantly.
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