HKC meaning in Business ?

Answer:

What is Hong Kong Convention mean?

The Hong Kong International Convention for the safe and environmentally sound recycling of ships, or Hong Kong Convention is a mulitateral convention adopted in 2009, which has not entered into force. The conference that created the convention was attended by 63 countries, and overseen by the International Maritime Organization (IMO).

The convention has been designed to improve the health and safety of current ship breaking practices. Ship breaking is considered to be "amongst the most dangerous of occupations, with unacceptably high levels of fatalities, injuries and work-related diseases" by the ILO as large ships are often beached and then dismantled by hand by workers with very little personal protective equipment (PPE). This is most common in Asia, with India, Bangladesh, China, and Pakistan holding the largest ship breaking yards.

The Hong Kong Convention recognised that ship recycling is the most environmentally sound way to dispose of a ship at the end of its life, as most of the ship's materials can be reused. However, it sees current methods as unacceptable. The work sees many injuries and fatalities to workers, as they lack the correct safety equipment to handle the large ship correctly as it is dismantled and most vessels contain a large amount of hazardous materials such as asbestos, PCBs, TBT, and CFCs, which can also lead to highly life-threatening diseases such as mesothelioma and lung cancer.

In advance of ratification of the Hong Kong Convention, the Industry Working Group on Ship Recycling issued Guidelines on Transitional Measures for Shipowners Selling Ships for Recycling.

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