19, Feb 2018

Green ship recycling - time to invigorate all the segments of the industry

Green ship recycling – time to invigorate all the segments of the industry
By Dr. Kanu Priya Jain, Coordinator, Responsible Ship Recycling, GMS (Dubai)

The majority of the global ship recycling activity is operated from a handful of countries such as: India, Pakistan, Bangladesh, China and Turkey. Within the last few years we have witnessed a rapid growth in the ship recycling yards looking to upgrade their facilities in these major recycling countries. In India, almost half of the active yards are operating under a Statement of Compliance (SOC) with the Hong Kong Convention (HKC) and recently, the first yard in Bangladesh also received the same certification. These developments in the market have led to an increase in the capacity of the ‘gree...

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11, Jan 2018

The conundrum of the enforcement of the Hong Kong International Convention on ship recycling

The conundrum of the enforcement of the Hong Kong international convention on ship recycling
By Dr. Kanu Priya Jain, Coordinator, Responsible Ship Recycling, GMS (Dubai)
More than 8 years after the IMOs Hong Kong international convention for the safe and environmentally sound recycling of ships (the Hong Kong Convention (HKC)) was adopted, currently, the biggest question being asked in the corridors of the ship recycling industry is “when will the HKC come into force”. The Convention aimed at improving the health and safety standards of the ship recycling yards has so far seen a very slow progress towards meeting its entry into force criteria. At the beginning of 2017, only four countries – Belgium, Congo, F...

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11, Jan 2018


Authored by Ms. Arnavi Panda, LLM (Maritime Law), Legal Advisor at GMS DMCC

Risk assessment and risk transfer are fundamental to every commercial contract. In English law, in the absence of any contract to the contrary, liability is traditionally assessed on the basis of fault. Emphasis should be laid on the phrase “in the absence of any contract to the contrary”. A knock for knock clause if one such regime whereby the parties can contractually agree that the liability and/or the losses lie where they fall irrespective of fault of either of the parties and without any further recourse against one another. The English Courts have upheld the validity of the knock for knock liability clause describing it to be “a crude but workable allocation of risk and resp...

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01, Nov 2017

Myriads of responsibilities and possibilities for ship owners seeking to recycle end-of-life tonnage

Myriads of responsibilities and possibilities for ship owners seeking to recycle end-of-life tonnage
By Dr. Kanu Priya Jain, GMS Green Team

For ship owners, it is critical to manage the recycling of end-of-life ships and offshore assets carefully, keeping in mind the relevant national and international regulations and the CSR policy of their company. However, most ship owners lack time and resources to dedicate specifically to such tasks because their main focus is on operations. In recent days, managing end-of-life ships is becoming increasingly complex due to revamped international and national regulatory landscape. Moreover, environmental protection has taken a spotlight amidst the talk of corporate social responsibility towards the environment and clim...

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11, Jan 2018

Latest Improvements in the Ship Recycling Industry

Latest improvements in the ship recycling industry 
By Dr. Kanu Priya Jain, GMS Green Team 

Alang, a small town situated in the state of Gujarat on the west coast of India is considered as the global capital of the ship recycling industry. At present, there are about 120 active recycling yards dismantling end-of-life ships to extract various types of scraps for recycling and equipment for reusing. There were times when not many yards were considered operating in a safe and environmentally sound manner. However, the ground reality is now changing rapidly. Almost half of the active yards in Alang are now operating (or are in the process of operating) under the certification of the Hong Kong Convention compliance from reputed classification societies such as Class N...

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31, Aug 2017

Challenges Faced by Owners with Technical Management of Single Demolition Voyages

Blogger of the Week
Mr. Rohan Murray, Head of Technical at GMS

Topic: Challenges faced by owners with technical management of single demolition voyages

Technical management for trading vessels has evolved over the years and ship owners prefer to manage their vessels either themselves through their in house technical team or through a third party ship manager. 

For the single voyage delivery, on board management, is usually assigned to third party ship managers. The quick turnaround required in vessels going for recycling poses many a challenge for the managers. 

The main issue faced is getting competent crew who are honest and transparent during their time on board. Honest to their profession and their duties on board a ve...

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28, Aug 2017

Inventory of Hazardous Materials (IHM) - A Mandatory Step Towards Responsible Ship Recycling

Inventory of Hazardous Materials (IHM) - A Mandatory Step Towards Responsible Ship Recycling
By Dr. Anand Hiremath, GMS Lead Co-ordinator for the Responsible Ship Recycling Programme (RSRP) and Head of R&D.
Previously known as the "Green passport", the Inventory of Hazardous Materials (IHM) has been significantly developed in the recent years in its methodology of sampling, analyzing and reporting of hazardous materials. Furthermore, the IMO has made periodic amendments on the IHM and the current amended guidelines can be found in MEPC 269 (68). For end-of-life vessels, Part I, Part II and Part III of IHM are -required whilst on their way to their final destination. The European Un...

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22, Aug 2017

GMS Develops Hot Works Guidelines for Tanker Bound for Recycling

August 11, 2017 

As ship recycling standards have increased across the sub continent, tanker owners need to adapt to the stricter requirements for cleaning vessels for hot works prior recycling. As we have seen earlier this year, tragic accidents aboard vessels that were not cleaned thoroughly led to a tragic loss of life and closure of the Pakistani market for over 8 months now. This should serve as a serious wake up call to tanker owners that their vessels must be totally cleaned of all cargo residues, slops and sludges in all cargo and slop tanks in order to mitigate risks of an accident at recycling yards.

Regrettably, we have noticed a few ship-owners are shying away from such an important and fundamental responsibility. This is a dangerous precedent tha...

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22, Aug 2017

The Importance of Hot Works

Blog of the Week
Entry#2 by Jamie Dalzell
Topic: The importance of Hot Works

As standards have increased across the subcontinent, so shipowners themselves also need to adapt to the stricter requirements now faced, particularly when it comes to tankers and cleaning vessels thoroughly to reach the updated more stringent hot works recycling standards. 

As we have seen earlier this year, tragic accidents aboard an FSU and LPG that were not cleaned thoroughly by the concerned cash buyer (possibly seeking to cut corners and do a 'cheap' cleaning job) led to an unnecessary loss of life and closure of the Pakistan market for over 8 months now. This wake-up call should serve as a dire notice to tanker owners that their vessels...

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02, Nov 2016

GMS Dubai shortlisted as Finalist for the ‘Shipping Company of the Year’ Award

GMS Dubai, the world’s largest buyer of ships and offshore assets, was shortlisted for the ‘Shipping Company of the Year’ award at yesterday’s 14th Seatrade Maritime Awards Middle East, Indian Subcontinent & Africa ceremony, held at Atlantis, The Palm Dubai.

The award honours companies that have undertaken a major transformation or had a significant impact on the region’s marine market. GMS was recognised for its transformative leadership of the ship recycling industry, its ongoing efforts to lead a global change in perceptions of ship recycling and its direct investment in both the expansion of its Dubai headquarters and the improvement of ship recycling facilities in India and Bangladesh.

GMS has driven forward the concept of re...

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16, Jun 2015

Beaching Ban Bad for Ship Recycling Industry

On Monday 20th of April 2015, Michael Grey of Lloyds List published the article "Name-calling bullies" where he outlined his opposition to the idea of banning beaching and gave reasons why such a decision would be impractical and unethical for the ship recycling industry.
In fact, throughout his article he stressed the improvements of safety and environmental standards which have taken place in facilities in the Indian subcontinent and highlighted the fact that these improvements had been witnessed during a fact-finding visit to Alang, India, by a delegation of Japanese industry and government officials organised by GMS. To quote the article directly:
"The visit, which was organised by the cash buyer Global Marketing ...

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24, Feb 2015

Secondary Steel Markets Sputters on Weekend in India

The brief spurt in raw material and steel prices witnessed over the last 3 days in India's secondary sector steel market, up on sentiments rather by increased demand, sputtered on weekend removing hopes of recovery in last leg of financial year

Price level of input material as well as finished had made rally over the last 3 days unexpectedly. The rally was primarily seen as firming up of domestic sentiments on the back bottoming out of iron ore and scrap levels in the international market. 

Sponge iron price declined at all major locations by INR 100 to INR 200 per tonne due to oversupply and weakening sentiment in finished market.

Scrap price levels remained firm though since IF's indulged in stock replenishment in anticipation of further price incr...

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23, Feb 2015

World's last single-hull VLCC heads for the Torch after several years laid up.

The world’s last surviving single-hull VLCC is set to make its final voyage to the breakers, market sources said this week.

SBM is said to have sold the 265,000-dwt Alba (built 1989) “as is” in Labuan, Malaysia.

Market experts are placing a price in the region of $10m on the vessel, which has been at anchor at the famous layup spot since June 2011.

SBM purchased the ship as Albatross from Greek owner Dynacom in a $25m deal in April 2011, with the tanker slated for conversion into a floating production, storage and offloading (FPSO) unit.

The scrap sale comes just a week after market speculation suggested the Alba, which was built by Hyundai Heavy Industries, was set for a final lease of life.

Potential storage deal


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20, Feb 2015


MUMBAI: The Indian rupee today snapped its two-session uptrend against the American currency, falling 18 paise to close at 62.34 on fresh dollar demand from banks and importers. 

The dollar was trading up in global markets on caution ahead of the US Federal Reserve's January policy meeting minutes release. 

The rupee resumed lower at 62.20 per dollar as against on Monday's level of 62.16 per dollar at the Interbank Foreign Exchange (Forex) Market. It dropped further to 62.35 before ending at 62.34, a loss of 18 paise or 0.29 per cent. 

The rupee had gained 15 paise or 0.24 per cent in the previous two sessions. 

The rupee hovered in a range of 62.19 per dollar and 62.35 per dollar during the day. 

"We believe ...

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20, Feb 2015


Pre Lunar Holiday iron ore recovery and steady scrap prices raise sentiments among India's secondary sector market players temporarily

Indian secondary steel market has been struggling to revive during the week which has been belied experts. Even the rally has not been steep it certainly has raised eyebrows coming at a time when the fundamentals remain unchanged. 

On talking to experts Steel Guru come to know that the recent rally in international iron ore levels and resistance in scrap levels have created temporary optimism. However it is unlikely to sustain given the demand and liquidity crunch plaguing the market. 

The price rally was across all products except structural steel declining at Ludhiana and Delhi but rally handsomely by INR 800 per t...

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