GMS

Overview

  • Sectors Shipping
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Company Description

Established in 1992 in U.S.A and its current global Head Quarters in Dubai (UAE), GMS is the world’s LARGEST Buyer of ships and offshore vessels for recycling. In addition, GMS group diversify into ship owning, sports, and properties.

GMS has commercially negotiated about:

    • 4,000+ commercial vessels and offshore units
    • Nearly 50% of the Total LDT that was beached in the Indian Sub-continent, so far in 2020.
    • The largest number of rigs for recycling.
    • 66% of the vessels that were offered for sustainable ship recycling in India.

Our GMS WEEKLY newsletter is the most quoted report in the ship recycling industry, with over 18 years in circulation and more than 950+ editions in print.

GMS is the only cash buyer in the world that has developed a core team of some of the leading experts in the world to assist owners with the requirements of the Hong Kong Convention for safe and responsible recycling of ships. This comprehensive expertise includes:

    • Regulatory requirements.
    • Vetting of yards.
    • IHMs, SRPs, FMPS.
    • Auditing.
    • Certificates of compliance.
    • Advisory services.
    • Mitigation of legal and headline risks.
    • Multiple offices across the world, including U.S.A, Germany, Greece, U.A.E, India, Singapore, China, South Korea, and Japan, and additional exclusive representative offices in India, Bangladesh, Pakistan and Turkey.
    • The first to have developed an exclusive Responsible Ship Recycling Program together with an IACS Classification Society.

GMS is now the first and only buyer in the world, to report on the ‘Carbon Footprint’ of every single vessel that is being recycled under the company’s responsible recycling program, from the point of beaching until the completion of the recycling process.

GMS remains the first and only cash buyer in the world to conduct regular risk assessment workshops for workers at its partner ship recycling yards, as well as provide guidance and training to the recycling yards in both Alang & Chittagong. GMS helps these yards upgrade their recycling facilities to international standards.

For more information: https://www.gmsinc.net/

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