Tanker recycling may hit a multi-decade high, says Dr. Anil Sharma, Founder & CEO of GMS in this Bloomberg article… https://t.co/NtwZMAF1uC

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In honor of the first ship to be recycled in Bangladesh according to @IMOHQ HKC standards arriving today, take a lo… https://t.co/F67JlIKGla

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In only 5 months, the EU Ship Recycling Regulation will have massive implications on the industry unless we ACT and… https://t.co/jknQIzT382

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Bangladesh yards are well on their way to becoming HKC compliant...inspirational to see the South Asian ship-recycl… https://t.co/KsdkajQnnS

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Declining markets in Southeast Asia, stability in Turkey and more industry commentary in this week's GMS Weekly at… https://t.co/Y6zabCfxrz

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OFFSHORE RECYCLING

OVERVIEW

Ever since the decline of the oil market in 2014, the offshore / drilling sector has been severely affected by the downturn. Various global drilling contractors have rapidly decommissioned a growing number of offshore assets (Semi-submersibles, Jack Ups, Drill Ships, Pipe Layers, Crane Barges, FPSOs, FSOs, Tugs, AHTs, etc.).

GMS expanding its services to become involved in the offshore space was a natural evolution to the company’s ongoing activities. Today, GMS is a provider of end-to-end solutions where drilling contractors benefit from the inclusion of GMS’s Responsible Ship Recycling Program, CSR activities, risk mitigation (including headline risk), and owners are shielded from future liabilities.

GMS’ unparalleled experience in the recycling industry has not only helped it facilitate complex deliveries of multiple drilling rigs on an “as is” basis with seamless takeovers, but also it has resulted in GMS concluding successful transactions with nearly all of the largest drilling contractors in the world, including nearly 50 offshore assets from several blue-chip companies.

GMS has not only concluded the largest offshore asset deal in the history of offshore recycling –five semi-submersibles in excess of 85,000 tons in a single transaction—but also created history in the offshore recycling segment by successfully initiating the heaviest dry double tow ever to be conducted.

For further information, download "GMS OFFSHORE FACTS" or contact us to learn how GMS can confidentially and safely assist your recycling needs.

* Note – due to confidentiality clauses, we are unable to list our clientele here, however, we are happy to provide a list of clients upon request.



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