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GMS is the world’s leading cash buyer of ships and offshore assets for recycling. We help our clients achieve their residual value expectations and ensure the safe and environmentally sound demolition of their vessels. We offer free training to recycling yard workers in India, Pakistan and Bangladesh through our Sustainable Ship and Offshore Recycling Program. GMS Podcasts channel offers a weekly take on the shipping markets, vessel residual values, and ship recycling.
Episodes

Friday Jun 06, 2025
Friday Jun 06, 2025
In Part 2 of the GMS podcast series on the Hong Kong Convention (HKC), we focus on what happened after the Convention was adopted in 2009. Why did it take 16 years to come into force? What practical and political challenges slowed down global adoption?
Host Henning is joined again by Dr. Nikos Mikelis, a central figure in HKC’s development, and Dr. Anand Hiremath, Chief Sustainability Officer at GMS, who has been directly involved in transforming ship recycling yards in South Asia.
Topics covered in this episode:
- Why HKC did not enter into force until 2025
- Misconceptions about compliance costs and operational impact
- Real-world transformation of yards in India, Bangladesh, and Pakistan
- The role of audits, training, and classification societies in verification
- How HKC compares with the EU Ship Recycling Regulation and Basel Convention
This episode highlights the practical journey from policy to real change, based on over a decade of on-the-ground work.
Register for the GMS HKC Webinar Series
To mark the entry into force of HKC on June 26, 2025, GMS is hosting a three-part live webinar series titled:
“HKC Compliance: What the Maritime Industry Needs to Know”
The first session, “From Convention to Transformation,” takes place on June 25, 2025.
Register here: https://us06web.zoom.us/webinar/register/9417485435018/WN_kLd2bjyvRxuaO3ZnZ1o3jg
Join leaders from across the maritime sector to explore lessons from implementation and what global compliance means moving forward.
Subscribe to the GMS Podcast and follow GMS on LinkedIn for future updates and discussions.
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