Established in 1992, GMS is the world's LARGEST and ONLY ISO 9001 (BVC) certified Cash Buyer of ships for recycling. With exclusive representatives in all of the major ship recycling markets in the world, GMS has negotiated about 2,000 ships for recycling so far. In addition to its original office in the USA, the company continues to expand its operations with offices in Dubai (UAE) and Shanghai (China) as well as representative offices in India, Romania, Bangladesh, Pakistan and Turkey for a total of eight locations to serve the needs of our global clients. GMS is also the FIRST and ONLY Cash Buyer to develop a Green Ship Recycling Program (GSRP) together with Germanishcer LLoyd (GL) to meet the highest standards of Corporate Social Responsibility (CSR) in the ship recycling industry. GMS continues to lead the ship recycling industry with innovative and practical solutions. Over the years, we have become the "voice" of the industry in international forums. GMS is the ONLY Cash Buyer in the world, who has made such a strong commitment to ship recycling with huge investments in infrastructure and human resources.
WHAT IS A CASH BUYER?
- Cash Buyers are not brokers. Cash Buyers are PRINCIPALS/TRADERS. They buy vessels on cash basis from ship owners and resell to ship recycling yards on Letters of Credit.
- Cash Buyers take delivery of vessels on both “delivered” and “as is where is” terms.
- IMO’s Hong Kong Convention on Ship Recycling will consider Cash Buyers as OWNERS of vessels.
- GMS is the world’s FIRST AND ONLY ISO Certified Cash Buyer. GMS is the ONLY Cash Buyer to:
- Negotiated more than 100 a year, for the last 9 years in a row.
- Delivered 300 ships in one year.
- Delivered about 8 mill DWT in one year.
- Delivered about 15 million DWT tonnage in 2 years… setting an all-time record for the industry!!
- Delivered 24 vessels in ONE month.
- Developed a Green Ship Recycling Program together with the world renowned IACS Classification Society Germanischer Lloyd (GL).
- Invited to participate in the deliberations leading up to IMOs’ Hong Kong Convention on Safe & Responsible Ship Recycling.
- GMS has negotiated about 50 million DWT tonnage.
- 1 of 3 ships in India and 1 of 2 ships delivered into Bangladesh are GMS deals.
- GMS has concluded one of the BIGGEST deals in the history of recycling.
- GMS buys more ships on an AS IS WHERE IS basis than any other cash buyer in the world.
- In 2011, Dr. Anil Sharma, President/ CEO of GMS, was recognized as the 47th most influential person in shipping by Lloyd’s List, moving up from the 49th position in 2010.
- GMS’s weekly newsletter, GMS WEEKLY, is the most read and quoted report in the Ship Recycling Industry with over 450 editions in print over the last 9 years.
- GMS has the biggest infrastructure of any Cash Buyer, which enables the company to successfully handle large volumes and complex deals with professionalism, integrity and unrivaled performance. We have been often cited for bringing credibility to this industry and leading the way for positive changes within the industry.
- In a recent survey, our clients rated GMS as A+ category Cash Buyer. Some of the measures that we are proud of are:
- Professional Staff: 100%
- Customer Satisfaction: 96.5%
- Overall Experience: 100%
- The world’s biggest ship owners turn to GMS for their ship disposal requirements.