GMS Leadership

19/10/2026

17/10/2026

A proud moment for GMS and the global ship recycling industry.

Dr. Anil Sharma, our founder and CEO, has received the Malta Maritime Award for Contribution to Sustainable Maritime, Logistics & Resource Operations, recognising more than three decades of contributions to the maritime industry.

The award was presented by H.E. Mr. Arsenio Dominguez, Secretary-General of the International Maritime Organization (IMO), and accepted on Dr. Sharma's behalf by Prof. Andreas Merikas.

Since founding GMS in 1992, Dr. Sharma has played an important role in advancing responsible ship recycling, with a strong emphasis on worker safety, environmental standards and regulatory compliance.

His initiatives include the Sustainable Ship and Offshore Recycling Program (SSORP), which monitors 281 health, safety and environmental data points, alongside free safety training provided to more than 14,000 workers across the Indian subcontinent.

This recognition also comes as GMS continues to address emerging environmental challenges, including developing a regulated pathway for the responsible recycling of sanctioned vessels.

We are pleased to share some highlights from the award ceremony.

Read the full press release: https://www.gmsinc.net/press/detail/dr-anil-sharma-receives-malta-maritime-award-for-contribution-to-sustainable-maritime-operations

Dr. Anil Sharma, founder of GMS and Lila Global, receives the Malta Maritime Award for his work in sustainable maritime operations and responsible ship recycling.

16/10/2026

GMS WEEKLY PODCAST | WEEK 41, 2026
OWNERS HOLD ALL THE CARDS

Buyers are ready, recycling yards have capacity, but where are the ships?

The global ship recycling market continues to face a shortage of available vessels, as strong trading opportunities and resilient second-hand values keep shipowners from committing to recycling.

Bangladesh maintains its lead in conventional recycling, Pakistan remains competitive, India focuses on specialist tonnage, and Turkey faces softer steel market conditions.

Meanwhile, declining dry bulk freight rates and renewed tensions in the Strait of Hormuz are adding further uncertainty to global shipping markets.

Despite continued buying interest, no fresh recycling sales were reported this week, with recycling yards largely receiving vessels committed during earlier periods.

Will weakening freight rates finally encourage owners to sell, or will the shortage of recycling candidates continue into 2027?

Listen to our latest GMS Weekly Podcast as we explore the key market developments, regional trends, and outlook shaping the global ship recycling industry.

Subscribe to access the complete GMS Weekly market insight, including detailed vessel indications, market rankings, steel prices, port positions and recycling market analysis: https://www.gmsinc.net/info/GMS-Weekly-Subscription

16/10/2026

from Tokyo

Dr. Anil Sharma, our founder and CEO, is on stage at the 5th Annual Japan Maritime Forum, addressing one of the most pressing challenges facing global shipping today.

As sanctions reshape the maritime landscape and the dark fleet continues to raise serious safety and environmental concerns, the focus is on moving beyond identifying risks towards practical, responsible solutions.

Stronger regulatory cooperation, greater transparency, and legally authorised pathways for recycling ageing, high-risk vessels are essential to safeguarding our oceans and strengthening maritime compliance.

GMS's landmark OFAC approval to recycle four sanctioned vessels demonstrates how regulatory compliance and environmental responsibility can work hand in hand.

The future of responsible shipping depends not only on stronger regulations, but on meaningful action.

15/10/2026

What do 150 million long-haul airline passengers have to do with ship recycling?

The emissions avoided through ship recycling at Alang are estimated to be equivalent to the annual emissions from more than 150 million economy-class passengers flying long-haul routes.

It gives a clearer picture of how significant the avoided emissions can become over time when large volumes of steel are recovered and reused.

13/10/2026

What does 44.4 billion kWh of energy savings look like at scale?

Through ship recycling at Alang, the energy saved over time is estimated at 44.4 billion kWh.

To put that into perspective, this is enough energy to run India’s entire railway network for more than 2 years.

It shows just how significant the energy savings can be when steel is recovered and reused rather than produced again from raw materials.

09/10/2026

The yards were ready to buy, but the ships kept trading.

In the latest episode of GMS Podcasts, Nayeem Noor, Vice President, Business Development at GMS, speaks with Jamie Dalzell, Head of GMS Singapore, about what Q3 2026 revealed about the ship recycling market.

The discussion looks at why stronger recycling prices did not lead to more vessel supply, how strong freight earnings kept ageing ships in service, why scarcity influenced pricing across Bangladesh, Pakistan and India, and how compliance and vessel-specific factors are increasingly shaping recycling decisions.

The key question is no longer simply what a vessel is worth for recycling, but what the owner is giving up by recycling it today.

Listen to the full episode, The Ships Stayed Trading: What Q3 2026 Revealed About the Ship Recycling Market - https://www.gmsinc.net/podcasts/detail/q3-2026-ship-recycling-market-ships-stayed-trading

Nayeem Noor and Jamie Dalzell discuss Q3 2026 ship recycling trends, freight strength, vessel scarcity, pricing, compliance and the Q4 outlook.

08/10/2026

What does 72.55 million MT of avoided CO₂ look like at scale?

Through ship recycling at Alang, an estimated 72.55 million MT of CO₂ emissions have been avoided by recovering and recycling steel from end-of-life ships.

To put that into perspective, this is comparable to the carbon absorbed in one year by a forest area nearly the size of Sri Lanka’s total land area.

That comparison helps illustrate the environmental value of keeping steel in circulation. Recycling steel reduces the need for energy-intensive primary steel production, helping conserve natural resources and avoid associated emissions.

Beyond recovering valuable materials, ship recycling contributes to lower emissions, resource efficiency, and a more circular economy.

07/10/2026

Q3 2026 delivered an interesting lesson for the ship recycling market. Recycling yards had appetite, capacity and increasingly competitive pricing, yet the expected increase in vessel supply did not materialise.

In their latest article, Jamie Dalzell, Head of GMS Singapore and Nayeem Noor, Vice President - Business Development, examine why strong freight markets, second-hand opportunities and continued employment kept many ageing vessels trading despite strengthening recycling values.

The article also looks at how scarcity influenced pricing across Bangladesh, Pakistan and India, why specialist vessels can produce a very different commercial outcome from conventional tonnage, and how compliance is increasingly becoming part of price discovery.

The key question is no longer simply what a vessel is worth for recycling today. It is what the owner is giving up by recycling it rather than continuing to trade, sell or redeploy it.

Read the full article: https://www.gmsinc.net/articles/detail/ship-recycling-market-q3-2026

GMS reviews the Q3 2026 ship recycling market, where strong freight kept supply tight, recycling values resilient and a larger backlog building into Q4.

07/10/2026

Week 40 in ship recycling: Bangladesh moves back to the top, but the real story is still scarcity.

Chattogram buyers have become more aggressive as available yard capacity meets a very limited supply of recycling candidates.

Pakistan remains active, but some of the urgency seen during its earlier buying run has eased as previously secured vessels continue to reach Gadani.

India had a quieter week, although stronger steel and continued interest in specialist tonnage are keeping Alang relevant. Turkey remains steady within its established niche.

The wider shipping market is still working against recycling supply.

Dry freight has softened, but earnings remain attractive enough to keep many ageing vessels trading. Oil prices have also eased, while security and insurance risks around the Strait of Hormuz continue to influence tanker economics.

A fresh market sale returned this week, but overall candidate supply remains thin.

The Week 40 picture is clear:
Bangladesh has the stronger immediate appetite.
Pakistan is still in the market.
India continues to find value in specialist ships.
Owners still have reasons to keep vessels trading.

The market leader has changed. The shortage has not.

Subscribe to access the complete GMS Weekly market insight, including detailed vessel indications, market rankings, steel prices, port positions and recycling market analysis: https://www.gmsinc.net/info/GMS-Weekly-Subscription

Listen to the latest GMS Weekly Podcast with Ingrid and Henning for a concise discussion of the key developments shaping the global ship recycling market.