Episode 1 of Ship Recycling Insurance Explained explores why insurance is a core requirement in the final voyage of a ship heading to a recycling yard. Host Jamie Dalzell speaks with Paulina Lazaridou, Head of Insurance at GMS, about the risks that define the end-of-life phase of a vessel and why structured insurance is necessary for safe, compliant, and responsible ship recycling.

Core Themes in This Episode
• Navigation risk and the importance of Marine Warranty Surveyor approval
• The role of P&I and hull insurance in casualty, pollution, and liability protection
• How insurance safeguards crews, third parties, and receiving yards
• Compliance expectations linked to international recycling standards
• ESG requirements that now shape underwriting decisions

Why Insurance Supports Responsible Ship Recycling
Paulina explains how GMS works with first-class P&I clubs and reputable hull insurers to ensure every vessel is properly protected. Insurance acts as a safety net for owners, supports environmental standards, and reinforces GMS’s commitment to transparent and compliant recycling practices.

How Industry Standards Are Changing
ESG pressures, detailed warranties, stronger pollution controls, and stricter compliance rules are reshaping the insurance landscape. These changes encourage better practices across recycling markets and improve the safety and environmental performance of final voyage operations.

Episode Insight
This episode sets the foundation for understanding the full risk profile of a ship’s final voyage. It highlights why experienced insurance management is essential in ship recycling and how GMS aligns technical, environmental, and compliance requirements to protect value at every stage.