Established in 1992, Global Marketing Systems Inc. (GMS) is the ‘world’s largest buyer of ships and offshore assets for recycling. With multiple offices across the globe, including the Germany, Greece, London, UAE, India, Singapore, Brazil, Philippines, China, South Korea, and Japan and further exclusive representative offices in India, Bangladesh, Pakistan, and Turkey, GMS has evolved to capture a global presence and a team of dedicated experts that helps the company provide one-stop, end-to-end solutions for the recycling of maritime assets. GMS was formed on the principles of TRUST, INTEGRITY, and PERFORMANCE. These have been the core principals at the heart of ‘GMS’s daily operations for more than 3 decades.
GMS positioned itself as the largest contributor to the ship recycling industry by creating value for all stakeholders related to the ship recycling industry over the last three decades. Ship recycling is a process in which end-of life ships are dismantled to recover useful material which includes steel plates, non-ferrous metals, and other reusable material. GMS, a leading cash buyer, plays a critical role in delivering the vessels to the recycling facilities. Since its inception, GMS, the largest cash buyer in the world, has facilitated the recycling of more than 4500 vessels. These transactions include recycling commercial vessels of leading shipowners, naval ships of various governments, and distressed vessels. GMS has undertaken more than 150 trans-pacific and trans-Atlantic tows. The phrase ‘Ship Recycling’ was first coined by the GMS.
GMS has a significant presence in the recycling of offshore vessels and has attained competence in managing risks associated with the recycling of offshore vessels. We have been guiding the owners and capital providers involved in offshore exploration, production, and construction to ensure recycling of their vessels complies with their own Environmental, Social, and Governance (ESG) policies. In house team of legal and ESG experts with years of experience plays a crucial role in compliance monitoring the complete recycling process.
We make certain that owners and financing banks can proactively manage the true residual values for offshore vessels.
We believe that the ship recycling industry is a notable example of a Circular Economy as it conserves the metal resources on the earth by recycling and reusing steel, copper, brass, and aluminum recovered from ships. It generates employment opportunities for skilled workers and supports the development of communities. The United Nations adopted Sustainable Development Goals 2030 (SDG 2030) to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030.
GMS is the pioneer in the industry to develop the unique Sustainable Ship and Offshore Recycling Program (SSORP).
The ship-owners, insurance, and finance providers lack understanding of recycling ships due to false information about the adverse environmental impacts and working conditions in recycling facilities, leading to ambiguity and confusion among them. Stakeholders face headline risk, ESG risks, and financial risks. To mitigate these risks GMS team has developed an award-winning program to provide an End-to-End solution for ensuring sustainable ship recycling. The SSORP steps in when the ship-owner decides to recycle a ship. The team of experts monitors the complete recycling process from the beginning until the completion of the recycling process. SSORP is very high on the value and low on the price.
Ship recycling sector bogged down by elevated shipping markets
GMS: How geopolitical dynamics impact ship-recycling markets
Red Sea crisis hits ship recycling market
GMS: Navigating environmental excellence in ship recycling under the HKC
Enhancing Governance in ESG Practices within the Ship Recycling Industry
Navigating Ethical Seas: The Social Dimensions of ESG in the Shipping and Ship Recycling Industry
Sailing Towards Sustainability: Advancing Environmental Values in Maritime ESG Practices
Advancing Sustainable Ship Recycling: The Imperative of Hong Kong Convention (HKC) as the Sole Regulation