India becomes world's top ship recycling nation in 2025 with 35.4% share, per UNCTAD
The Ports Ministry said on 22 June 2026 that India ranked first in global ship recycling in 2025, with its share rising to 35.4% from 30.1% in 2024, according to UNCTAD.
Summary
India emerged as the world's leading ship recycling nation in 2025, the Ministry of Ports, Shipping and Waterways said on 22 June 2026, citing the latest UNCTAD report. India's share of global ship recycling rose to 35.4% in 2025 from 30.1% in 2024, and recycling volume rose nearly 60% to 2.99 million gross tons from 1.86 million GT, meeting the Maritime India Vision 2030 target ahead of schedule. India enacted the Recycling of Ships Act, 2019 and ratified the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships in 2019; ₹53.5 crore of assistance has helped 115 yards become HKC-compliant.
Key facts
- Rank (2025)
- 1st in global ship recycling
- Share
- 35.4% in 2025 (30.1% in 2024)
- Source
- UNCTAD
- Volume
- 2.99 million GT in 2025, up nearly 60% from 1.86 million GT
- Target met
- Maritime India Vision 2030
- Law / treaty
- Recycling of Ships Act, 2019; Hong Kong Convention ratified 2019
- HKC-compliant yards
- 115, with ₹53.5 crore support
- Credit note scheme
- 40% of scrap value; usable for up to 5% of a new Indian-built vessel
Practice MCQs 4 questions
According to the UNCTAD report cited by the Ports Ministry on 22 June 2026, what was India's share of global ship recycling in 2025?
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Correct answer: A — 35.4%
India's share rose to 35.4% in 2025 from 30.1% in 2024, making it the world's top ship recycling nation.
India's ship recycling law is aligned with which international convention, ratified by India in 2019?
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Correct answer: C — Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships
The Recycling of Ships Act, 2019 aligns India's ecosystem with the Hong Kong International Convention (HKC), which India ratified in 2019.
Under the Ports Ministry's Ship-breaking Credit Note Scheme, ship owners receive a credit note equivalent to what share of the scrap value of a recycled ship?
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Correct answer: B — 40%
Ship owners receive a credit note equal to 40% of the scrap value, usable toward up to 5% of the value of a new vessel built at an Indian shipyard.
Consider the following statements about India's ship recycling performance, as reported on 22 June 2026: 1. Ship recycling in India rose to 2.99 million gross tons in 2025. 2. Financial assistance of ₹53.5 crore helped 115 facilities become compliant with the Hong Kong Convention. Which of the statements given above is/are correct?
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Correct answer: D — Both 1 and 2
Both are correct as stated by the Ministry of Ports, Shipping and Waterways.