According to the Hong Kong Convention, the ship's life cycle is limited to 25 years old due to its deteriorating of its effectiveness and uneconomical to be operated, so it needs to be recycled. This opens up the market for a ship recycling industry in Indonesia. Two business models can be implemented to a green ship recycling industry, one is as a service provider model and the other is a "3-in-1"model. Before opening up a new green ship recycling business, a feasibility study needs to be conducted to assess which model of green ship recycling business will be more profitable. Several aspects need to be considered in a feasibility study. This paper will be focusing on the financial aspect of the feasibility study. The results of this feasibility study for the service provider model are Payback Period of 3.74 years, Average Rate of Return of 0.36, Net Present Value of IDR228.322.021.477,00 Profitability Index of 3.82, and Internal Rate of Return of 17%. For the 3-in-1 model with a Payback Period of 11.7 years, yields Average of Return of 0.28, Net Present Value of IDR124.876.569.841,00 Profitability Index of 2.25, and Internal Rate of Return 12%. From those results, it can be concluded that the service provider model is more profitable.