Green Gold Rush: The Sustainable And Profitable Business Of Ship Scrapping

Credit: Torsten Dettlaff/Pexels

The Drachten-based business was established in 2020 with the goal of acquiring a fleet of retired ships that would be kept in service until they could be recycled.

The goal of the business plan is to profitably scrap ships in a sustainable manner, as reported by Offshore Energy.

Journey or a dead end?

Captain Uday Yellapurkar, a former chairman of Womar, Rein Amels, a former managing director of W-O Shipping, and an ex-colleague of theirs, Vladimir Radisic, created EEC. The three founders each provide a lot of knowledge and proficiency in the transportation industry.

Capt. Uday explained that sustainable shipbreaking was an unexplored industry ready for disruption in an interview with Offshore Energy.

“At EEC, we view the pursuit of the least polluting practises and continuous process improvement as being green.” It directs our efforts to establish a sustainable supply chain through sustainable recycling. It is a journey rather than a dead end.

Global sustainability standards 

A considerable number of ships are still being beached at Asian yards, where workers are subjected to hazardous conditions and the environment is harmed by toxic waste, despite efforts to promote sustainable methods. Nonetheless, as the shipping sector begins its decarbonization mission in line with global sustainability standards, a number of firms are entering the market with the intention of advancing more sustainable practices through the use of contemporary technology.

By giving steel companies older ships that may act as a reliable source of the supply chain rather than exclusively relying on ore mines, EEC hopes to revolutionise the present ship recycling landscape. By disassembling abandoned ships and utilising the molecules in other goods, we also aim to offer them a second chance at life.

Introducing new distractions 

“I am aware of the difficulties the shipping sector has, and I think it is best not to make their already hectic schedules even busier by introducing new distractions. We should offer them complying, timely, all-encompassing, and adaptable answers to their concerns rather than placing the blame on them. We can provide the industry with the help it needs without harming its core business by coordinating infrastructure, steel producers, and finance,” he said.

The company collaborates with a number of parties, including the Arab Shipbuilding and Repair Yard Company (ASRY) in Bahrain, which just recently received statement of conformity certificates for the European Ship Recycling Rules and the Hong Kong Convention. Astander Shipyard, Azzaron Overseas, Dammam Shipyard, and producer of structural steel products SULB are some of the other partners.

Did you subscribe to our newsletter?

It’s free! Click here to subscribe!

Source: Offshore Energy


This site uses Akismet to reduce spam. Learn how your comment data is processed.