###It is not built yet but, ClassNK has just announced it had completed the document review for a Ship Recycling Facility Plan (SRFP) to be constructed by Tsuneishi Ship Recycling (Negros) in the Philippines, verifying it to be in line with the 2009 Hong Kong Convention. This marks the first application by a recycling facility in South-East Asia submitted to ClassNK for verification, as well as the first facility designed to comply with the HKC standard from its planning stage. As the final part of the verification process, ClassNK will conduct the on-site inspection, including checks on facilities and actual recycling practices, when ship recycling work commences to confirm its processes conform to the SRFP. It would seem Tsuneishi are showing a great deal of foresight, similar to 1994 when the Japanese-owned organisation opened the shipbuilding facility at Cebu in the Philippines. Tsuneishi Heavy Industries Cebu has become a big name in bulk carrier construction building its range of TESS bulkers from 35,000 – 98,000dwt and larger Kamsarmaxes. Since 2000, Cebu has produced over 220 ships and still has over 40 on its orderbooks which stretch through to early 2020. However, new orders are getting hard to come by and with a recycling bubble beginning to build due to overcapacity and the combined effects of the ballast convention and the 2020 cap on sulphur, breaking rather than building looks to be the next big thing.