Established in 1992 in historic Cumberland, MD. (U.S.A), GMS is the world's LARGEST Buyer of ships and floating offshore assets for recycling. With exclusive representatives in all of the major ship recycling markets around the world, GMS has successfully negotiated about 3,500 ships for recycling since inception.
In addition to its original office in the United States of America, the company continues to expand its global footprint with offices in Hamburg (Germany), Athens (Greece), Dubai (UAE), Bhavnagar (India), Singapore, Seoul (Korea), Shanghai (China) and Tokyo (Japan). Moreover, GMS also has (exclusive) representative offices in all major recycling locations i.e. India, Bangladesh, Pakistan, China and Turkey, for a total of 13 global locations to effectively serve the needs of our clients.
GMS is also the FIRST and ONLY Buyer to develop a Responsible Ship Recycling Program (RSRP) to meet the highest standards of Corporate Social Responsibility (CSR) in the ship recycling industry. GMS continues to lead the ship recycling industry with innovative and practical solutions and pushing the "green" agenda for safer recycling practices.
Over the years, we have worked tirelessly and become the "voice" of the industry in international forums as our team-members are regularly invited the world over to speak at various forums and conferences. GMS is the ONLY Buyer in the world, who has made such a strong commitment to ship recycling with massive investments in infrastructure and human resources.
As the company continues to grow and expand its areas of operations, principals of GMS now own and operate a fleet of wet and dry tonnage, as well as container ships, which are managed by in-house commercial and operations teams that are complemented (when needed) by third-party managers. The management team is headed by seasoned Chief Engineers and Captains.
GMS’s experience in shipping is complemented by GMS Capital; a new division that is specializing in corporate acquisitions, mergers, new buildings, and second-hand purchases, which augment our principal’s trading fleet. The team has a boutique style, hands-on approach to all transactions and tends to target deals that are either too small for larger PE funds to consider (in the USD 3 - USD 20 million range) or transactions that complement the firm’s core business and competencies within the greater shipping markets.