In a recent study conducted by Tuscia University in Italy think-tank Sandbag and non-government organisation Shipbreaking Platform discovered that ship recycling in Europe is still a largely unexplored potential for steel decarbonisation.
Scrap recycling is viewed as low-hanging fruit, despite the emergence of innovative technology for clean steel manufacturing.
The rise of scrap demand
Recent trends show that scrap demand is expected to rise in the coming years, with steel makers attempting to cut down energy consumption.
According to the estimate, by the middle of the 2030s, 11 902 European-owned ships will be nearing the end of their useful lives, The Maritime Executive reported.
This figure indicates that there will be an average of 700 ship demolitions annually during this time.
It is anticipated that 10–15 million tonnes of scrap steel may be recovered annually at this level of ship recycling in Europe, which could account for up to 20 percent of the European Union’s (EU) yearly scrap steel consumption.
Electric Arc Furnaces (EAF) are one of the more recent energy-efficient technologies.
The technology’s ability to use a significant percentage of recycled steel is particularly notable.
Because of its high quality standards, the paper contends that ship steel may be a dependable source for trash.
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The EU Circular Economy Act
The authors of the study, meanwhile, believe that the proposed EU Circular Economy Act is a critical chance to stimulate ship recycling on the continent.
The Act aims to build an EU-market for secondary raw materials, especially scrap in the steel sector.
There are already forecasts that by the 2050s, Europe will become a net importer of scrap steel and ship recycling will offer a reliable supply chain for the secondary raw materials market.
Still a long way to go
Despite this, the ship recycling sector in Europe still has a long way to go.
Only one percent of European ships are currently recycled in the EU bloc, while 70-95 percent of a ship’s weight is recoverable as scrap steel.
The majority of shipowners in Europe sell to South Asian yards, which provide scrap steel at competitive prices.
The domestic steel market in South Asian countries has been pointed out as one of the primary drivers for the attractive demolition rates.
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