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For over 13 years now, every Monday GMS Weekly has brought you the most reliable and thorough information on the ship recycling industry for free to help you make educated decisions.
Since 2014 I have provided The Maritime Executive with an end-of-year review of developments on the ship recycling and with some thoughts on what we may expect to see in the new year. In preparing this year's review I felt that, before setting out my expectations for 2019, it would be appropriate first to recall the expectations I had for 2018 in my article of January 7 and compare these with what actually took place in the year.
The Maritime Executive
Brussel's new ship demolition rules mean European Union-flagged vessels could face at least a 50% loss in residual values and have trouble finding yards to recycle them, one of the world's largest cash buyers has warned.
The environmental impact of the shipbreaking industry is often misunderstood. Yet that is also why shiprecycling has been so exciting, according to GMS chief executive Anil Sharma.
Secondhand bulkers are undervalued by up to half of what their value should be, given their earnings potential in what is expected to be an upbeat dry cargo market over the next several years, the head of Clarksons Platou in Hong Kong said on 21 November.
What the judges said:
The judges felt that GMS's responsible ship recycling Program (RSRP) is a very tangible initiative producing very effective results.
GMS handled themselves with great deal of integrity and professionalism in our most recent sale, including the extension of a cancelling ...Read more
Sellers is delighted by the smoothness of the negotiation and delivery. It's been a wonderful experience dealing with GMS and particu...Read more
Andhika SNP Team
In September 2016, Atlantic Container Line AB (ACL), a Grimaldi Group company, sold the Atlantic Concert, one of our five G3 multipurpose...Read more
Atlantic Container Line AB
We, EVER GLORY MARITIME COMPANY LTD. have countersigned MOA of our managed vessel named “MINBEI” with GMS on 6 May, 2016 and ...Read more
Ever Glory Maritime Company Ltd.
We, Hyundai Merchant Marine Co., Ltd. would hereby recommend Messrs GMS Inc. or nominees as solid and reliable partners for the recycling...Read more
Hyundai Merchant Marine