Market Commentary - Week 32 - PUSHING PAST THE PRECIPICE! Subscribe for weekly updates:…




The ship recycling market is witnessing the making of a "W" shape recovery in India, which followed an "inverted L"…


#ShipRecycling Facts! #Maritime #ShipRecycling #Sustainability




Established in 1992 in historic Cumberland, MD. (U.S.A), GMS is the world's LARGEST Buyer of ships and floating offshore assets for recycling. With exclusive representatives in all of the major ship recycling markets around the world, GMS has successfully negotiated about 3,500 ships for recycling since inception. 

In addition to its original office in the United States of America, the company continues to expand its global footprint with offices in Hamburg (Germany), Athens (Greece), Dubai (UAE), Bhavnagar (India), Singapore, Seoul (Korea), Shanghai (China) and Tokyo (Japan). Moreover, GMS also has (exclusive) representative offices in all major recycling locations i.e. India, Bangladesh, Pakistan, China and Turkey, for a total of 13 global locations to effectively serve the needs of our clients.

GMS is also the FIRST and ONLY Buyer to develop a Responsible Ship Recycling Program (RSRP) to meet the highest standards of Corporate Social Responsibility (CSR) in the ship recycling industry. GMS continues to lead the ship recycling industry with innovative and practical solutions and pushing the "green" agenda for safer recycling practices. 

Over the years, we have worked tirelessly and become the "voice" of the industry in international forums as our team-members are regularly invited the world over to speak at various forums and conferences. GMS is the ONLY Buyer in the world, who has made such a strong commitment to ship recycling with massive investments in infrastructure and human resources.

As the company continues to grow and expand its areas of operations, principals of GMS now own and operate a fleet of wet and dry tonnage, as well as container ships, which are managed by in-house commercial and operations teams that are complemented (when needed) by third-party managers. The management team is headed by seasoned Chief Engineers and Captains. 

GMS’s experience in shipping is complemented by GMS Capital; a new division that is specializing in corporate acquisitions, mergers, new buildings, and second-hand purchases, which augment our principal’s trading fleet. The team has a boutique style, hands-on approach to all transactions and tends to target deals that are either too small for larger PE funds to consider (in the USD 3 - USD 20 million range) or transactions that complement the firm’s core business and competencies within the greater shipping markets.



For more than 26 years GMS has been an innovator and a leader in the ship recycling industry boldly facing challenges and finding sensible solutions.

Market Coverage

With offices and representatives in all major shipping and ship recycling markets, we are uniquely positioned to address your needs via person to person interaction. We THINK GLOBAL and ACT LOCAL.

Market Risk

GMS was formed on principles of TRUST and INTEGRITY. Our principles have been battle tested in more than two decades of volatile markets.

Solution Driven

Most people run away from difficult situations, we run towards them. Our job is to find honest solutions to your most complex recycling problems.

Green Recycling

GMS TEAM: depth, expertise, 4 Doctorates. RSRP headed by a Dr Hiremath who has Doctorate in Ship Recycling, Dr. Mikelis, also known as the father of the Hong Kong Convention (HKC), is non-executive director and guides owners, capital providers and recyclers on regulatory conditions.


Depth and width of experience: more than 3,500 deals, most qualified people in their respective fields, No other buyer can provide more complete results.