Why GMS

  • Leadership: In most industries there generally is a market leader; a company that elevates business processes and changes the dynamics of the industry. In the past 20 years, GMS has slowly but determinedly led the way in revolutionizing the industry. No other company in this industry has ever created the number of “firsts” in this industry as GMS. Our efforts are focused on improving standards and “the way things get done”. 
  • Experience: We have successfully negotiated about 3000 ships for recycling since inception, nearly 700 of which were done in the last three years alone! This deep-rooted experience means owners are in responsible hands and are fully guided on local conditions, to ensure smooth and timely compliance of delivery conditions.
  • Solutions Driven: In the ship recycling business, you are either “part of the problem” or “part of the solution”. Our focus is to always take charge of the situation and find solutions. Even when matters do not directly entail us (e.g. third-party claims, collisions, etc.), our involvement to find solution for owners has proved invaluable, not only for the owners, but even the claimants. Owners have increasingly started to appreciate our involvments and efforts in this regard. Being volume driven, we do not get entangled in problems and do our best to pre-empt them.
  • Professionalism and Integrity: These may be clichés to others, but to us, these are our core values! Every new recruit is coached on these core values and, as a result, owners find clear and results-driven responses no matter which office or trader they deal with. 
  • Market Coverage:
    • GMS is the ONLY cash buyer in the world with multiple offices in major markets and key time zones. With buying offices in USA, Germany, Greece, UAE, Korea, Singapore, China, and Japan, our buying specialists are available 24/7 to respond expeditiously to your requests and needs.
    • GMS is the ONLY cash buyer with EXCLUSIVE representatives in the major ship recycling markets of Bangladesh, China, India, Pakistan and Turkey. As a result, owners are dealing with a GMS team member and not an independent broker in local markets.
    • Having our own offices and exclusive representatives certainly adds costs to the “bottom line”. However, we feel it is critical to have exclusive reps in local markets who subscribe to the “GMS way” rather than deal with a rep who may represent several cash buyers in a given market. This decision has enabled us to prevent problems at the time of delivery.
  • Investment in Infrastructure: No other cash buyer in the world has invested the amount of funds and resources into building a vast infrastructure of qualified professionals, multiple large offices, cutting edge technology, up-to-date information flow, and several other monetized elements that aid in prompt and uneventful negotiations and deliveries. This enables us to give every vessel, the personal and prompt attention it so rightly deserves. When dealing with others, brokers often complain about “phones going silent“ (mobile phones not being answered) at times of crises. Not at GMS! We remain hands on and on call - 24/7!
  • Market Risk: In today’s highly competitive and volatile demo markets, ship prices will often change by the time the vessel arrives at the port of delivery. Historically, CASH BUYERS have simply ‘passed-on’ this loss (due to market corrections) to owners, under the guise of vessel misdescription. GMS on the other hand, has steadfastly abstained from such practices. Day in and day out we continue to perform, regardless of fluctuations in demo prices. Market risks are simply absorbed—underwritten—as part of regular business practice. GMS has the strength and the depth to underwrite these huge market risks.
  • Green Ship Recycling: GMS is the FIRST and ONLY cash buyer to have developed a joint program with a major IACS classification society Germanischer Lloyd (GL), to recycle vessels in compliance with the highest standards in worker safety and environmental protection. This program also meets the guidelines of the IMO’s Hong Kong Convention on Safe and Responsible Ship Recycling.
  • ISO Certified: GMS is the world’s FIRST and perhaps the ONLY ISO certified Cash Buyer since 2005. Read Press Release 

 

"GMS" refers to the network of Firms in various locations. Each Firm is a separate, independent legal entity and is not liable for the acts or omissions of any other Firm in a different location. Services are provided by an individual Firm solely on its' behalf.