RECYCLING

Responsible Disposal

At the end of a vessel’s useful life for physical or economic reasons (sometimes both), an owner is faced with having to dispose of his ship in an environmentally responsible and lawful manner.

Most vessels have considerable residual value based upon their actual weight, which is composed mostly of steel and non-ferrous metals. There are numerous recyclers around the world who buy these retired vessels, dismantle them, and sell the residual scrap and other parts for further applications. Some of the scrap goes towards making new steel and contributes to the construction of new ships, completing this circle of life.

Selling vessels to these demolition yards or to the cash intermediaries who finance them is an important component of what we do as shipbrokers.