Developing a MCDM-based framework for achieving circular economy through sustainable ship recycling

Abstract

As a result of the growing global population, concerns about the energy crisis and sustainability issues are studied by researchers and policymakers to make a transit from a linear to a circular economy. However, the recycling of end-of-life (EOL) ships has long been a severely marginalized research area in the field of circular economy, and many EOL ships are still adhering to the outdated linear model. The number, size, and volume of ships being built around the world have consistently increased during the past 20 years. In near future, the global ship recycling volume is anticipated to increase dramatically which will aid the circular economy. Consequently, there is a necessity to develop a framework for ship recycling that will become a roadmap to achieving a circular economy. Hence, this study identifies the factors associated with ship recycling and creates a Multi-Criteria Decision Making (MCDM) framework using Interpretive Structural Modelling (ISM). The framework identifies that the main driving factors for achieving an effective circular economy through ship recycling are the government policies, the environmental and maritime regulations, and the funding for the capacity building.