GMS Debuts Ship Recycling Portal
GMS launched a Ship Recycling Portal digital platform that aims to revolutionize the ship recycling industry by making the sales and purchase of end-of-life vessels more convenient, transparent, and efficient.The Ship Recycling Portal is a specialized vessel auction platform designed to streamline the sale of ships directly to shipyards for recycling. With it, GMS claims, ship recyclers have the flexibility to make real-time decisions on the vessels they wish to purchase from the comfort of their offices or homes."Ship recycling is an important pillar of the maritime industry…
In Ship Recycling, it's "Tanker Time"
The ship recycling markets continues to perform well, according to GMS. The supply of tonnage remains primarily focused on wet and offshore units – particularly OSVs, FSUs, Aframax tankers, MRs and smaller bunkering tankers.In particular Pakistan has been leading the way with some of the best numbers on show (especially on choice units), although Bangladesh is not far behind them and even India is slowly (and surely) competing on select specialist vessels, especially in the absence of many HKC green units being proposed for sale…
Ship Recycling Prices, Activity Remain at Historic Highs, say GMS CEO
Dr. Anil Sharma, CEO and founder of GMS, is a dominate player in the world’s ship recycling business. MR TV caught up with him in late June 2021 for insights on the pace and direction of ship recycling activity and pricing.Dr. Sharma, to start, can you give us an overview of the ship recycling market as you see it today?Thank you, Greg. Let's start with prices because that's the news of the hour. Today we are at about 70% of record numbers in the ship recycling market. In 2008…
Market Report: In the Ship Scrapping Business, it is "Covid Chaos"
The increasingly growing concern this week has been the number of mounting Covid-19 cases across the sub-continent, especially in India, where the country hit a daily record infection rate of over 200,000 cases per day, placing an increasing pressure on an already strained healthcare system that is fighting to keep up with the number of sick.There is talk in India of another nationwide lockdown, as only the worst hits states/provinces are under quarantine at present, with residents…
Ship Recycling: Ship Scrap Prices Soar to Nearly $500/ton During the Pandemic
Dr. Anil Sharma is a wealth of knowledge on ship scrapping, having started GMS 25 years ago, getting into the business of buying and disposing of old U.S. MarAd and Russian navy ships as a sideline while teaching as a college professor in Maryland. Today his company is dominant in the field, and in the last year he has seen an unprecedented 70% run up on ship scrap prices, approaching $500 per ton. He weighs in on ship scrapping trends and direction.By Dr. Anil Sharma’s estimation…
GMS Launches Korean Operation
GMS, a cash buyer of ships and offshore structures, has launched a new operation in Korea. The office will be headed by Gyungbae Gil, a trader who was based in Dubai. According to GMS, the move will allow it to strengthen its position in the important East Asian market, and grow its expanding customer base. GMS said it has worked with a significant number of Korean owners and brokers for many years, and as the Korean market continues to grow, more vessels will need to be recycled. GMS claims to be the only cash buyer that currently operates in Korea, and the launch of the operation will further strengthen its position within the region.
Virdi Joins GMS' Dubai Operations
GMS is proud to announce that Ms. Jasvinder Virdi has joined the company to further develop its growth within the industry. Jasvinder comes with a wealth of determination and enthusiasm, as well as experience of working within the shipping industry, having spent the last 10 years at the St. Kitts & Nevis International Ship Registry as a Ship Registration Executive where she was instrumental in building strong client relations. Jasvinder joins the GMS Operations Department in Dubai to continue and expand the company’s success by adding value and commitment. Jasvinder commented: “I am excited to start a new challenge with GMS and look forward to working with the team to further develop their already extensive and established products and services.
GMS Supports DSA Stance on Beaching
GMS, a buyer of ships for recycling, has voiced its support of the Danish Ship Association (DSA) which refuses to ban beaching outright following the recent announcement by their Norwegian counterparts. GMS supports DSA’s position that ship recycling choice shouldn’t be based just on geography. A delegation from the DSA recently visited shipyards in Alang, India to see how some had upgraded their facilities to comply with the Hong Kong Convention on ship recycling. The DSA believes…
GMS Applauds Hapag-Lloyd's Recycling Move
Global Marketing Systems, Inc (GMS) has welcomed the announcement that German owner, Hapag-Lloyd, will no longer sell vessels to recycling yards that do not comply with strict environmental regulations and guidelines. Dr. Dr. Sharma advises caution, however, in managing what is effectively a whole new way for the industry to do business. “At this early stage, shipowners must target their custom towards recycling yards in all areas of the world, including India, China and Turkey.
