GMS Dubai, the world's largest buyer of ships and offshore assets, was shortlisted for the 'Shipping Company of the Year' award at yesterday's 14th Seatrade Maritime Awards Middle East, Indian Subcontinent & Africa ceremony, held at Atlantis, The Palm Dubai.
The award honours companies that have undertaken a major transformation or had a significant impact on the region's marine market. GMS was recognised for its transformative leadership of the ship recycling industry, its ongoing efforts to lead a global change in perceptions of ship recycling and its direct investment in both the expansion of its Dubai headquarters and the improvement of ship recycling facilities in India and Bangladesh.
GMS has driven forward the concept of responsible ship recycling, which has now gained acceptance from key stakeholders around the world. It is the only buyer of ships committed to safe and environmentally sound ship recycling, with a dedicated "Green Team" working with industry associations, government bodies and unions to support improvements in worker health, safety and environmental standards. Moreover, it is the only buyer of vintage tonnage that has actually invested in the last ten years over $1million USD in the education of shipowners, yard facility owners and media about the significance of responsible recycling.
Most significantly, GMS championed approximately 200 deals last year, finishing on top of its competition once again. Since its establishment in 1992, the company has concluded about 3,000 vessels and offshore structures. Notably, the company is on a rapid growth rate with the addition of two new offices and further expansion plans for next year.
Dr. Anil Sharma, President and CEO, GMS commented: "Being a finalist in the 'Shipping Company of the Year' category at the Seatrade Middle East Awards is a fantastic achievement for GMS. Ship recycling plays a fundamental role in the sustainable lifecycle of a vessel and under the current market conditions, responsible recycling is the only way to address the vessel oversupply. As a company, our leadership and commitment in developing a more sustainable future for the ship recycling industry has made a real, tangible difference to attitudes and practices within the shipping industry and we look forward to seeing this trend growing further in the coming years."