Our preferred option at the end of an asset’s life is to find alternate employment; primarily through a sale for further trade, or conversions – typically to Floating Storage and Offloading units (FSO) or Floating Storage Production and Offloading (FPSO) units.

When alternate use of the vessel is not deemed feasible, a decision to recycle the vessel may be taken as the last resort. As a ship owner, we take full “cradle to grave” accountability and have a strict audit and inspection regime for approval of the ship recycling facilities (SRF) we utilize. With adherence to all relevant rules and regulations, we are following up the entire recycling process until the very last part has been dismantled.

As part of our follow-up work, we are working with the SRFs to collectively learn and share competence with the aim of continuously improving relevant practices. Through actively participation in industry forums and our membership in the Ship Recycling Transparency Initiative (SRTI), we are promoting responsible ship recycling practices on an industry level.

We have close working relationships with top tier SRFs in India, Turkey and Norway.

Current recycling projects relating to vessels owned at end-of-life by Altera Infrastructure group companies:

Vessel
Recycling Location
Project Start
Project Complete
Navion Hispania
Turkey
Jan 2020
Completed
Stena Sirita
Turkey
Jan 2020
Completed
Petrojarl Cidade de Rio das Ostras
India
April/May 2020
Completed
Navion Bergen
India
September 2020
Completed
Apollo Spirit
Turkey
December 2020
Completed
Dampier Spirit
Turkey
April 2021
Completed
Navion Oslo
Turkey
July 2021
Completed
Navion Stavanger
India
December 2021
Completed
Navion Anglia
Turkey
February 2022
Completed
Hi-Load DP
Norway
October 2021
Re-purposed 2022
Petronordic
Turkey
September 2022
Completed
Falcon Spirit
India
October 2022
Completed