Call it our prudence or an opportunity in disguise, the financial crisis of 2008, led us into establishing the business of Ship Cash Buying. Due to the crisis, shipping industry was hit hard; hence there was an increase in the number of ships available for demolition. This accompanied by our established presence in global trading markets, reliable contacts with banks, financial institutions spread across India, Singapore, Europe and U.A.E, we set foot in the Sale and Purchase of Ships for Recycling which in the industry is also called the business of Ship Cash Buying for Demolition.

Ship Recycling being our family business and having long standing relations with most of the Indian Ship Breakers, we had an established in-house market for our vessels. While this helped us in rapidly establishing ourselves, since 2009 we have been selling most of our vessels to other ship breaking yards in India, Bangladesh and Pakistan. Ship recycling being our parental business and with the help of close friends in the industry, we have been able to reach the top Cash Buyers in relatively short period.

Our parental business of ship breaking became our ancillary unit, feeding on the produce of our ship cash buying unit. We are a self-sustaining business model, where our ship purchases feed our own ship breaking yards, which in turn feed our Indian scrap processing units and local scrap trading needs.

In early 2013, we commenced owning, operation and management of cargo ships. Shipping is the new baby that we are nurturing in Ace Exim.