Background

NKD Maritime Limited “NKD” is a UK based Cash Buying company, servicing recycling clients in India, Pakistan and Bangladesh. Established since 2003, NKD have a proven track record and have invaluable experience with some of the largest and most respected ship owners in the world.  As a result of NKD’s wealth of experience in Green Recycling, it is the leading specialist in environmentally friendly recycling in India.

NKD have an exclusive partnership with the Shree Ram Group. Their facilities in Alang, West Coast India, are renowned for being the best Green Recycling facilities in the Indian subcontinent.

NKD work closely with owners to ensure a safe and professional delivery of vessels. Over the years, it has proven their ability to facilitate prompt payment and maintain full confidentiality on all transactions. This is the reason owners and brokers alike do not look beyond NKD to sell their vessels for recycling purposes.

NKD has developed close links with a number of owners, including but not limited to:

  • » Transocean (First vessels sold by Transocean to India)
  • » Maersk (First vessels sold by Maersk to India)
  • » Evergas
  • » BW
  • » NYK
  • » Mitsui OSK Lines
  • » Stolt Tankers
  • » Eitzen
  • » Jo tankers
  • » Gearbulk
  • » Glory Ship management
  • » Naftomar
  • » Odjfell
  • » Diamond Offshore
  • » MISC


The Principal of NKD Maritime Limited “NKD”, Narinder Dheir, has been involved in the recycling steel business since 1993. With a background in banking, Mr Dheir originally ventured into the recycling business through a start-up business, Electra Maritime Limited, and soon became one of the leading cash buyers in the ship recycling business.

Between 1993 and 2003, during his time at Electra Martime Ltd, Mr Dheir purchased in the region of 250 vessels, including over 30 VLCC's from respected owners such as Shell, Mosvold, Krupp, Karnassis, Drytank, Troodos and British Gas. He also developed partnerships with Companies in India, Pakistan and Bangladesh.

In 2003, Mr Dheir left Electra Maritime Ltd and set up NKD Maritime Ltd. NKD was established to become a niche player in the ship recycling business by primarily focusing on special tonnage i.e. Offshore assets, LNG’s, LPG's, Chemical tankers, containers and reefers. Allied to this was the NKD’s perception that Green Recycling was the future.

Since inception, NKD has been become the forerunner in promoting Green Recycling to Alang, India. Their exclusive partners, the Shree Ram Group “Shree Ram” (www.shreeramgroup.in), have spent a considerable amount of time and expense to create what they believe to be the most environmentally green and safe recycling yards in the Indian Sub- Continent.

NKD is Shree Ram’s exclusively nominated cash buyer.  In 2018, their ship recycling facilities were all issued with their NK Class Statement of Compliance “SOC” confirming that their facilities are able to recycle tonnage in line with the Hong Kong Convention guidelines. NK Class have the strictest of all classification societies presently issuing HK SOC Certificates.

In recognition of this, Maersk sold the group their first vessels to be recycled outside of China, “Maersk Wyoming” and “Maersk Georgia”.  

In addition, Shree Ram has previously obtained Certificates issued by internationally recognised Maritime Body Bureau Veritas for ISO 14000, OHSAS 18000 and ISO 3000. Furthermore, Shree Ram has the only dedicated facility for the safe removal of Asbestos (ACM from pipes and valves) at their yards in Alang. This encompasses the use of Negative Pressure Asbestos Handling systems, as approved by the European community. Shree Ram has 5 yards in Alang, all of which are equipped with facilities for removal of asbestos, PCP's and other Hazardous material.

The yards have been audited by major tanker owners and have been visited and approved by IMO and NYK Line delegation.

Further highlights of NKD’s most poignant transactions include:

  • In 2019, NKD and Shree Ram were selected by Transocean to recycle their first offshore asset “Jack Bates” into India.

  • In 2018, NKD and Shree Ram were selected by MISC to recycle their first ever offshore asset “FSO Abu” into India.

  • In 2016, NKD & Shree Ram were selected by USA based Diamond Offshore Co LTD to recycle their Drill ship “Diamond Clipper” and their Oil Rig “Ocean General”.

  • In 2015, NKD and Shree Ram were exclusively selected to recycle the Mitsui OSK owned “LNG Aries”, the first Moss type LNG to be recycled outside China. Their relationship with Mitsui OSK dates back to 2010, when NKD and Shree Ram were selected by Mitsui OSK to recycle the 3 Double Hull VLCCs, “Atlantic Liberty”, “Orion Trader” and “Ohminesan”. Since then, NKD have recycled 2 further VLCCs and a Suezmax and remain the only cash buyer to have concluded tanker tonnage with this owner.

  • NKD has recycled 18 vessels for Mitsui OSK to date.

  • KIWIRAIL, the New Zealand Government rail company, selected NKD to recycle their RORO ferry “Ararhura”.

  • NKD has recycled 32 vessels for Stolt Tankers to date.


NKD are happy to buy vessels on an asis, whereis basis, or delivered to Pakistan, India (as mentioned above with particular emphasis on green recycling) or in to Bangladesh. NKD has close connections with and strong representation in all the main recycling areas of the Sub-Continent.

One important difference between NKD and other cash buyers is that it does not speculate. Everything purchased is sold immediately back to back, thereby avoiding the volatility of the recycling markets. There have been many well documented bad experiences for owners over the years as a result of other cash buyers speculating. Owners working with NKD mitigate their risk by utilising their back to back business model. To further protect owners’ interests, NKD require all purchases to be conducted in their own UK registered company and never in an SPC as is often the case with other buyers.

If you would like NKD to assist you with the recycling of vessels which have come to the end of their life, or have any questions, please do not hesitate to contact us.