IN THE NEWS
Steel plate costs push ‘hot’ demo market close to 2008 highs.
Recycling yards scale back enthusiasm as steel plate prices fall.
Tankers and offshore units retain appeal for hungry recyclers.
Sub-continent Covid-19 crisis puts squeeze on ship recycling capacity.
Ship recycling rates crash through $500 per ton for favoured units.
Recycling activity likely to rise as older vessels face the chop.
Ship recycling market strengthens following Chinese New Year pause.
Shipowners face recycling disruption as EU fails to approve Indian subcontinent yards.
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