GMS Debuts Ship Recycling Portal

September 7, 2023

Ship recyclers attend the GMS online portal launch. Photo courtesy GMS
Ship recyclers attend the GMS online portal launch. Photo courtesy GMS

GMS launched a Ship Recycling Portal digital platform that aims to revolutionize the ship recycling industry by making the sales and purchase of end-of-life vessels more convenient, transparent, and efficient.

The Ship Recycling Portal is a specialized vessel auction platform designed to streamline the sale of ships directly to shipyards for recycling. With it, GMS claims, ship recyclers have the flexibility to make real-time decisions on the vessels they wish to purchase from the comfort of their offices or homes.

"Ship recycling is an important pillar of the maritime industry, and it is time to bring it into the digital age," said Dr. Anil Sharma, Founder and CEO of GMS. "In the next 10 years, as the supply of ships for recycling and the demand for transparency increases, it's the right time to introduce selling ships online. The Ship Recycling Portal is not just a product; it's a paradigm shift. We're setting a new industry standard by centralizing and simplifying the transaction process for ship recycling. This portal eliminates the complexities and uncertainties that have long plagued our sector, offering a streamlined, user-friendly platform that is transparent and reliable. As we roll out this pioneering initiative, we're not just advancing GMS; we're revolutionizing the very fabric of the ship recycling industry for the better."

While GMS is the sponsor and creator of the Ship Recycling Portal, the platform will be available to other shipowners and cash buyers, aiming to become the primary method for delivering vessels to ship recycling yards. This platform will also allow GMS to offer its extensive services, knowledge, and sales capabilities to a broader spectrum of buyers.

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