We are EEC: Innovative game-changers introducing financial and industrial process innovation to the present ship recycling scene.

Latest news

Check our latest news

Korean Ship Breaking

Leading Member of International Association of Classification Societies (IACS) unveils Circular re UAE SRR.

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Our Mission

UAE Ship Recycling Regulation mandates transformative changes in ship recycling

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Maksym Kaharlytskyi M7ievvk4fza Unsplash

Breaking News: UAE Government adopting new UAE Ship Recycling Regulation

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How does our process work?

Why

We want to change the self-evidently unhappy ship-recycling scene.

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How

We offer ships a green and socially responsible elegant alternative.

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What

With our innovative Own, Operate and Recycle exit.

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Our mission

Elegant Exit Company leads the way in ship recycling innovation, committed to advancing both financial strategies and industrial processes. We're dedicated to bolstering sustainability and efficiency by acquiring a fleet of vessels well in advance, which will be lined up for recycling purposes. Our plan involves owning and operating these vessels until their planned recycling date. We're adopting a sale and leaseback structure to ensure that residual value and end-of-lease align with our recycling objectives.

Our recycling process is meticulously designed for peak efficiency and environmental compliance. We're fully committed to meeting stringent regulations, such as the EU SRR, and we prioritize the well-being of our partners and workers. To realize these aspirations, we're implementing streamlined production processes from Ship to Green Steel, focusing on yard logistics and transforming vessels into new steel.

We purchase aging ships to recover their high-grade steel content. By utilizing our unique approach, we maintain the steel's quality throughout the recycling process. Unlike traditional practices, ship owners don't pay us for recycling. Instead, we generate revenue by selling the raw materials.

Our innovative methodology for ship recycling presents an ecologically sustainable, socially conscious, and economically feasible choice for the industry. What sets us apart is our unwavering dedication to sustainability and compliance, along with our commitment to the safety and well-being of our workforce.

Some figures

Learn about the numbers

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Ships

World fleet consists of approx. 100,000 ships> 500 GT (UNCTAD stat)

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Growth

World fleet Grown by 220% in the period 2004-2013, mainly series-built in China, Korea and Japan

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Onwards

It is expected that this new build wave from 2004 - 2013 will be demolished from 2023 onwards.

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Scrapped

Currently, 80% of ships are still scrapped on the beaches in SEAsia.

Year

Recycled ships

Tonnage recycled (NGO)

Tonnage recycled (UNCTAT)

2014
1026
22,689,843
22,431,039
2015
769
20,369,280
23,339,989
2016
862
27,459,543
29,134,953
2017
835
20,698,103
22,915,519
2018
744
18,891,322
18,930,402
2019
674
13,514,458
12,217,675
2020
630
15,398,714
17,214,347
2021
763
16,014,464
14,866,964

Quotes

And as a single leaf turns not yellow but with the silent knowledge of the whole tree...

Khalil Gibran

And not a single senior ship engages in unscrupulous activity without the silent knowledge of our entire industry we love and feeds us all...

The Elegant Exit Company

“Join us on our journey: We will fix the bittersweet end by UP-cycling tired old ships in to New Green Steel!”