We sent letters to companies in our portfolios that sent ships for scrapping in Bangladesh, India or Pakistan in 2017. And engaged in dialogue with a number of them that responded.
KLP drew increased focus to the issue and negative attention to companies that used the beaching method. KLP also garnered support from additional investors. Given current market conditions, however, the number of ships sent to beaching has increased overall.
In 2019 KLP also visited yards in India.