Maritime Industry Briefing: Recycling Regulations, Financing Moves, and Hydrogen Corridor

## Stricter Ship Recycling Checks in India According to *Splash247*, India has introduced additional documentation requirements for vessels heading to its ship recycling yards. The new process from the Directorate General of Maritime Administration aims to make it harder for 'dark fleet' ships with falsified paperwork to slip through. 'Cash buyer' Wirana, a major player in the ship recycling market, warned that these stricter checks will 'squeeze' the ability of sanctioned ships and those with unclear ownership to be recycled in India. The move is part of India's efforts to clean up its ship recycling industry and avoid taking on vessels with dubious origins. ## Precious Shipping Taps Japanese Financing In other news, Thai dry bulk owner *Precious Shipping* has secured Japanese lease financing for four of its handysize vessels, *Splash247* reports. The company arranged a Japanese operating lease with call option (JOLCO) deal to refinance part of its fleet. JOLCO structures are a popular way for shipowners to access competitively-priced capital, often from Japanese investors. This allows Precious Shipping to free up liquidity while maintaining control of the vessels. ## Plans for Japan-New Zealand Hydrogen Corridor Looking at the energy transition, a consortium of Japanese companies is working to establish a hydrogen supply chain between Japan and New Zealand, *Seatrade Maritime* reports. The group includes shipping firms Kawasaki Kisen Kaisha and Mitsui O.S.K. Lines, as well as energy companies JERA and Sumitomo. The partners aim to create a 'hydrogen corridor' to transport hydrogen produced in New Zealand to Japan. This aligns with Japan's goal of becoming a global hydrogen hub and diversifying its energy sources away from fossil fuels. The project is still in the early planning stages. Overall, this briefing covers a range of topics impacting the maritime industry - from regulatory changes affecting ship recycling, to innovative financing moves, to the development of new clean energy supply chains. These developments demonstrate the dynamic nature of the sector as it navigates evolving market conditions and sustainability priorities.