In Part 2 of Ship Recycling Insurance Explained, GMS examines how insurance provides stability in ship recycling markets shaped by currency restrictions, political uncertainty, and evolving compliance requirements. Host Jamie Dalzell speaks with Paulina, Head of Insurance at GMS, about how structured insurance programs protect the final voyage when trading conditions shift and regulatory pressures increase.

Key Topics in This Episode
• How insurance manages political and jurisdictional challenges in recycling destinations
• The importance of global reinsurers and A rated markets for reliable coverage
• How trusted local correspondents support emergency response and claims handling
• Policy wording that addresses sanctions, currency convertibility, and enforceability risk
• ESG requirements that influence underwriting and voyage approval
• Insurance documents and warranties needed for safe and compliant recycling

How Insurance Supports Global Ship Recycling Operations
Paulina explains how GMS works with insurers across multiple regions to ensure every voyage is properly protected. In markets affected by currency instability or political change, strong insurance becomes a critical safeguard for owners, crews, and the environment. The episode highlights how insurance reinforces safe manning, pollution control measures, green recycling contracts, and transparent compliance practices.

ESG, Compliance, and Underwriting Trends
Growing demand for ESG verification, stricter recycling documentation, and closer monitoring of high risk destinations are reshaping how underwriters review end of life voyages. Insurance now plays a central role in validating whether a vessel can be recycled responsibly.

Episode Insight
Part 2 shows how insurance helps GMS manage complex and fast changing recycling environments. By combining global capacity, local expertise, and tailored policy wording, GMS ensures the final voyage remains safe, compliant, and resilient against political and market pressures.