ASR is primarily engaged in Cash Buying of Demolition vessels and operates out of Singapore. Our promoters are experienced ship recyclers from India having demolished more than 250 vessels and having a current requirement of up-to 100,000 MT annually in their recycling facilities in the East and West Coast India.
ASR buys ships primarily for dismantling by the promoter groups and for some selected ship breaking units on back to back basis. While this somewhat restricts ASRs buying, it continues to guarantee smooth closures of all deals negotiated by ASR. Herein lies the difference between ASR and other eminent Cash Buyers; ASR buys a lot for home consumption and close associates and therefore has a hundred percent smooth delivery record.
Last three years have seen unprecedented fluctuations in the market price of demo vessels with prices going up and down by as much as USD 50-70 PMT within very short periods. In spite of such market trends, ASR in the last three years has individually and in joint ventures delivered over a million tons successfully. We guarantee, like no other buyers, that all the terms and conditions of the MOA with the Owners are honored, irrespective of market fluctuations.