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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 Jul 11, 2025
Friday Jul 11, 2025
In this third episode of the GMS Hong Kong Convention Series, Ingrid and Henning focus on the critical role of recycling yards under the Hong Kong Convention, which came into force on 26 June 2025.
Listeners will hear how yards across India, Bangladesh, Pakistan, and Türkiye are transforming, with hundreds now HKC-certified or actively upgrading to meet international standards. This episode explains how yard-level improvements, supported by Ship Recycling Facility Plans and third-party audits, contribute to global ESG goals and build trust across the maritime value chain.
The episode also highlights GMS’s Sustainable Ship and Offshore Recycling Program (SSORP), which supports recycling yards and shipowners alike through training, documentation, and carbon reporting, with verification by LRQA.
For shipowners, financiers, insurers, and regulators, HKC-ready yards offer more than compliance; they reduce risk, protect investments, and enhance transparency.
Key points:
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Yard-level progress and capacity growth in key recycling countries
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Why HKC-compliant yards benefit owners, financiers, and insurers
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How SSORP supports ground-level implementation and ESG audits
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Real-world impact of cultural change, training, and certification
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