Edit: On thinking about this tangent, it seems that if global regulation is the only solution, it would make sense to enforce regulation from the ship building side (in western countries), rather than the wrecking side (in developing countries) which will only displace the bad practices to less scrupulous countries. A solution might be sizable amount of money that had to be paid to escrow that could not be released back to the owner until the ship has been disposed of in an environmentally sound manner, incentivizing and funding the proper scrapping of ships. Or perhaps a levy which funds safety practices and equipment for scrapping companies