Within the Ship Recycling Industry companies such as Mideast are commonly known as “Cash Buyers” A cash buyer, is an entity that purchases a vessel on a prompt payment basis and delivers it to a recycling yard for the purpose of recycling. Cash Buyers are the “middle men”. Cash Buyers are not brokers. The main function of our business includes sales (selling), financing (taking title of the vessel against payment), market evaluation (forecasting future prices, demand/supply). Mideast provides an important economic and distribution function to the owners of vessels globally.