Share of the global fleet owned by Hong Kong Convention states by country 2021
The Hong Kong Convention was established to develop systems responsible for the recycling of ship fleets worldwide, ensuring the adoption of minimum safety and environmental protection standards by contracting countries. Before 2019, only a total of six states signed off their entry into the convention. This included Panama, which in 2021 accounted for 16.1 percent of the global fleet in terms of deadweight tonnage. As of June 2023, 23 countries have ratified the convention, making it enter into force in June 2025.
