What we do
Illeon is a ship recycling company that purchases ships nearing the end of their life or viability from ship owners. We then deliver these ships to recycling yards in India, Bangladesh, or Pakistan, depending on the specific case. As one of the few cash buyers actively operating in all recycling countries, Illeon has established itself as a prominent player in the industry.
Promoted by Arun Mathew, a former banker with expertise in lending to major cash buyers worldwide, Illeon has been strategically positioned to focus on the ship recycling industry. Arun Mathew, along with his team, played a crucial role in one of the leading banks, specializing in lending to all significant cash buyers in the world.
India
- India has a robust infrastructure and a well-established ecosystem of ship recycling yards, making it an ideal destination for recycling end-of-life ships.
- India's ship recycling industry follows international guidelines, such as the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, ensuring responsible practices and maintaining high standards.
- Recycling ships in India helps to meet global sustainability goals, as it significantly reduces greenhouse gas emissions and energy consumption compared to manufacturing new ships.
- India's strategic location and proximity to major shipping routes make it convenient for ship owners to choose Indian ship recycling yards for their end-of-life vessels.
Bangladesh
- Ship recycling in Bangladesh is a thriving industry, gaining recognition for its efficient and cost-effective processes.
- The country enforces strict environmental and safety regulations to ensure responsible ship recycling practices.
- The industry plays a vital role in minimizing maritime pollution by ensuring proper handling and disposal of hazardous materials.
- The strategic location of Bangladesh allows for convenient access to major shipping routes, attracting ship owners seeking reliable recycling services.
Pakistan
- Pakistan is home to approximately 100 yards, with around 40 currently operational.
- The yards in Pakistan adhere to safety regulations and are working towards implementing environmentally friendly practices through HKC compliance.
- Choosing Pakistan’s ship recycling yards offers shipowners a reliable option for sustainable ship disposal and promotes responsible practices within the industry.
