Asset Recovery – Dismantling Toan Thang 68 ALCI Bulk Carrier
1. Background & Objectives
Agribank Financial Leasing Company I repossessed the Toan Thang 68 ALCI bulk carrier. The client required a “clean dismantling” – safe, compliant, and on schedule, ensuring the port premises were cleared quickly for reuse.
2. Scope & Key Volumes
| Category | Estimated Volume |
|---|---|
| Vessel lightweight (LWT) | > 4,200 tons |
| Structural steel | > 3,150 tons |
| Non-ferrous metals (copper, aluminum, lead…) | > 95 tons |
| Waste oil & sludge | > 82 m³ |
| Hazardous waste (lead paint, asbestos, refrigerants) | > 43 tons |
| Workforce per shift | 4 teams × 20 workers |
3. Execution Process
- Survey & Dismantling Plan – Developed Inventory of Hazardous Materials (IHM) and cutting map.
- Fuel & Oil Extraction – Waste oil transferred into sealed ISO tanks and handed over to licensed processors.
- Hazardous Material Removal – Asbestos insulation in Cargo Hold No. 3 removed using dual vacuum extraction.
- Modular Hull Cutting – Ship dismantled into 8 × 6 m cubic blocks, reducing lifting operations by 24%.
- On-site Sorting & Baling – Thin steel (<5 mm) processed with guillotine cutters; heavy steel cut by oxy-plasma; non-ferrous metals baled separately.
- Site Restoration – Pier surface cleaned with 250-bar high-pressure washing.
4. Key Results
- Completed 4 days ahead of schedule, with zero disruption to port operations.
- Recycling rate: 99.5% of hull weight – only 0.5% required disposal.
- Absolute safety: 0 labor incidents, 0 community complaints.
- Carbon reduction achieved compared to primary steelmaking (per IAI & IREP 2024 factors).
5. Client Value Delivered
| Benefit | Summary |
|---|---|
| Fast asset recovery | Dismantling time reduced by 12%, enabling quicker asset turnover for the client. |
| Reduced environmental risk | Complete separation of asbestos and lead paint; no leakage into surrounding waters. |
✅ Toan Cau BN demonstrated professional ship dismantling capabilities: Safe – Green – Fast, setting the foundation for long-term partnerships with financial institutions seeking large-scale maritime asset recovery.
