IN THE NEWS
GMS linked to deal for product tanker duo, with prices raising questions.
Prime Marine scraps LR1 pair as Greeks accelerate tanker demolitions.
Price and green yard capacity seen as key to imminent scrapping wave.
Converted VLOCs are quickly vanishing from shipping history.
[Tank]ing contracts: Doctrine of ‘Good faith’ versus ‘WOG’ and other exclusionary terms.
Freight bonanza and demand for secondhand tonnage stifle demolition market.
Scrap market 'shaky and confused' as owners hold back ships on price falls.
Recycling yards scale back enthusiasm as steel plate prices fall.
Scrap rates stay above $600 amid thin volume during summer holidays.
Industry needs to give to ship recycling regime the attention it deserves.
'Mythical' scrap price of $600 approaches says GMS, as steel values firm.
Established in 1992 in historic Cumberland, MD. (U.S.A), GMS is the world's LARGEST and FIRST ISO 9001 certified Cash Buyer of ships for recycling. With exclusive representatives in all of the major ship recycling markets in the world, GMS has 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 operations with offices in Hamburg (Germany), Athens (Greece), Dubai (UAE), India (Bhavnagar), Singapore, Seoul (Korea), Shanghai (China) and Tokyo (Japan).
P.O. Box 346041, Suite 101,
Saba 1 Jumeirah Lake Towers, Dubai, UAE
P:+971.4.4230720
F:+971.4.4230721
E: gms@gmsinc.net