Our partner company as Cash buyer and breaker was established in 2016 in Alang, Bangladesh and Nigeria as a private limited company. It has a vision to process ship recycling activity in the Asian and African continent. The strategy of its promoters is to establish a large-scale ship recycling facility, on the western coast of Africa, equal in size to the Indian and Bangladesh Ship Recycling yards and better in facilities, adhering to the latest global standards in the ship recycling business, thereby change the entire dynamics of the global ship recycling industry.
The company has acquired a large plot of land, more than a km long, abutting Atlantic Ocean and is presently developing a facility of 15 large yards to accommodate large VLCC’s, ULCC’s, Oil Rigs and other large tonnage which is presently being scrapped in India and Bangladesh.
A “Cash Buyer” as the name suggests, is an entity that purchases a vessel for “Cash” from the owners and delivers it to a ship recycling yard (Ship Recyclers). CashBuyers are not brokers. Cash Buyers are PRINCIPALS/TRADERS. Cash Buyers take delivery of vessels on both “delivered” and “as is where is” terms.
Business functions performed by a Cash Buyer include sale and purchase, financing (taking title of the vessel against full payment), market research, evaluation (forecasting future prices, demand/supply factors and other relevant business-specific issues) and risk management (underwriting market, operational, performance, currency, demand/supply, and various other risks).
Benefits of a dependable Cash Buyer to Ship Recyclers:
- Having a large inventory of vessels at all times gives ship recyclers the ability to choose a vessel of their choice
- Extensive financial experience helps in providing recyclers with the option of negotiating LCs (Letters of Credit) convenient to them
- Extensive understanding of local regulations and procedures makes delivery and beaching on the yard a hassle-free process
- Understanding the needs of the ship recycler pertaining to their requirements on the types of vessels, Lightweights they are able to negotiate, and their banking requirements makes every transaction a smooth one
- Exclusive local representation helps to offer personalized attention and the ability to cater to the needs of the ship recyclers
- Ability to forecast the markets on the supply-side as well as trends in the ship recycling sector helps to provide ship recyclers with the best service