Dr Sharma: We have successfully negotiated about 3200 ships for recycling since inception
by Effat Mostafa
The ship recycling industry is a major supplier of steel and an important part of the economy in many countries, such as Bangladesh, India, Pakistan and Turkey. The recycling of scrap metals from ships also reduces the need for mining, an environmentally damaging practice. In this way, it is a vital part of the circular economy, which purports to minimize waste and recycle some materials infinitely.
Recent statistics revealed by the EU Commission shows that in 2016, 78% of total dismantled shipping tonnage in the world was beached, with European owners accounting for around one third. German and Greek owners beached 74% and 87% of their disposed vessels respectively, while Norwegian owners recycled 13 of their 17 end-of-life vessels in modernized facilities.
Shipyards in the UAE are also expanding their business models and recycling will make foray into the country in near future. According to Dr. Anil Sharma, Founder, President and CEO of GMS, ship recycling doesn’t have a direct impact on the Gulf as it cannot physically be done here using the Sub-continental Model of Beaching. However, with the strong focus on the shipping sector, there could be a place for ship recycling in the GCC, as it is currently being carried out in Europe or the US under very strict environmental guidelines.
For GMS being the World’s largest and first ISO certified Buyer of ships and offshore assets for recycling, Marasi News exclusively emphasized the company’s progress on green ship recycling which includes contractual and procedural arrangements to ensure that end-of-life ships are recycled in a responsible manner.
The World’s Leader Cash Buyer
Established in 1992 in USA, GMS is the world's largest, ISO 9001 (BV) certified Cash Buyer of ships for recycling. The company continues to expand its operations with 8 offices in USA, Germany, Greece, UAE, Singapore, Korea, China and Japan.
GMS has been pioneering the ship recycling industry with innovative and practical solutions and by pushing the "green" agenda for safer recycling practices. As the company manages to grow and expand its areas of operations, principals of GMS now own and operate a small fleet of dry tonnage, as well as container ships, which are managed by in-house commercial and operations teams that are complimented by third-party managers.
Dr Sharma highlights, “I believe that the reason why we are positioned as an industry leader is because of our varied portfolio of end-to-end solutions and the tailored service we offer from 8 locations across the world. Then, our integrity and professionalism in each deal we do for the last two decades have supported us to maintain our clients’ loyalty as we try our best to add a distinctive value. Moreover, it is crucial for the shipping industry to understand the significance and the complexities of Residual Values in shipping and the importance of well-planning ahead within six months to a year prior to disposing of an asset. We always aim to make ship recycling “Simple and Easy” to our clients and we manage the risk in many occasions in spite of the market price fluctuations.”
Breaking the records in
GMS has experience in the trading of all types of ships and offshore structures including but not limited to Floatels, Semisubmersible Drilling Rigs, Derrick Barges, Pipe Layers, and AHTS/PSV vessels. He pointed out, “We are proud to have hit record transactions of about 3200 ships since our initiation. We have successfully initiated our unique GMS RSRP (Responsible Ship Recycling Program) which operates in accordance with the IMO's Hong Kong Convention (HKC) guidelines and the ILO requirements, addressing worker safety and meeting thee environmental standards set by the HKC.”
Dr Sharma clarified, “The program allows both ship owners and ship yards stand to benefit from GMS’s experience and its versatile team. It also offers ship owners the benefit of selling their ships to a globally acknowledged leader like “GMS” that would provide best market value for their ships and a ship recycling process carried out in a safe and environmentally responsible manner.”
Raising the responsible Ship Recycling awareness
In addition to being the world’s leading buyer of floating assets for recycling, GMS has made a considerable investment to encourage research and development in ship recycling by academicians and scientists. GMS has further supported several writers of Masters and Doctoral Thesis in ship recycling at international universities plus, several creative artists. Dr Sharma is always considering ship recycling as “fourth pillar of shipping”. GMS has invested approximately one million US dollars in training and education to promote the importance of ship recycling and make sustainable recycling the norm across the industry. Furthermore, GMS is the only trading company that employs a Green Team of Ph.D. specialists in ship recycling, who monitor, evaluate and report on the recycling process that takes place at ‘green’ certified recycling yards that have acquired a Statement of Compliance with (HKC), and therefore, recycle floating assets under HKC’s guidelines.”
About Dr. Anil Sharma:
Dr. Anil Sharma is the Founder, President and CEO of GMS, the world’s largest buyer of ships for recycling. Originally from India, Dr. Sharma moved to USA where he earned his Master’s (MBA) and Doctorate (DBA) degrees in Business Administration. Prior to establishing GMS, Dr. Sharma was a Professor and Chairman in the Business Administration Department at a University in USA for 10 years.
Dr. Sharma is a regular speaker at prestigious shipping and finance conferences worldwide such as the Annual Gulf Ship Finance Forum, Marine Money, Mare Forum and Capital Link. He has published several articles on ship recycling and has been interviewed extensively by shipping, finance and mainstream media. He continues to champion the cause for responsible ship recycling. Lloyd’s List has recognized his contributions to the industry by listing him amongst the Top 100 Most Influential People in Shipping for the last seven years in a row.