Ship scrap yards scrapping the ships, ship recycling companies, green ship recycling, vessel scrap price, and dismantling of ships are the various processes that are used to disassemble the ships depending on the condition of the vessel. However, the processes currently used by ship recycling companies to dismantle the retired vessels have been helping merchant fleets and shipbreaking operations in several ways by following sustainable development goals globally. The best option to discard the vessels that reach their end or retired stage has been termed as ship recycling or green ship recycling by the International Maritime Organization (IMO). By looking at the current use of technology for ship recycling by ship scrap yards or ship recycling companies, it can be defined as a systematic engineering process that involves disassembling, ship scrapping, recycling, and reusing all the useful parts of obsolete vessels to recycle the vessel in the most sustainable manner