GMS Podcasts
GMS Podcasts is produced by Global Marketing Systems (GMS), the world’s largest buyer of ships and offshore assets for recycling. The company helps clients achieve expected residual values and ensures safe, environmentally sound recycling of vessels. It also offers free training to recycling yard workers in India, Pakistan, and Bangladesh via its Sustainable Ship and Offshore Recycling Program. This weekly podcast covers shipping markets, vessel residual values, and ship recycling.
Episodes
The Ships Stayed Trading: What Q3 2026 Revealed About the Ship Recycling Market
Why did ship recycling supply remain tight in Q3 2026 even as recycling prices strengthened and yards remained ready to buy?
In this episode of GMS Podcasts, Nayeem Noor, Vice President, Business Development at GMS, speaks with Jamie Dalzell, Head of GMS Singapore, about the market forces that kept many ageing vessels trading rather than heading for recycling.
They discuss how strong freight earni
Ship Recycling Market Update Week 40 2026 | Bangladesh Leads as Vessel Supply Stays Tight
In this Week 40, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning discuss the latest developments shaping the global ship recycling market, as Bangladesh moves ahead of Pakistan to become the leading conventional recycling destination while available vessel supply remains extremely limited.
Chattogram has returned to the top of the sub-continent market, with recyclers bidding more aggres
Ship Recycling Market Update Week 39 2026 | Tanker Rates Soar as Recycling Supply Retreats
In this Week 39, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning discuss the latest developments shaping the global ship recycling market, as exceptional tanker earnings, firm dry freight markets and continued geopolitical disruption keep recycling candidates in increasingly short supply.
Tanker availability has tightened significantly amid disrupted Gulf flows and continuing uncertaint
Ship Recycling Market Update Week 38 2026 | Hormuz Traffic Drops, Freight Stays Strong & Fresh Sales Stall
In this Week 38, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning discuss the latest developments shaping the global ship recycling market, as disruption around the Strait of Hormuz and Red Sea continues to influence freight markets, vessel supply and recycling decisions.
Middle East shipping routes remain under pressure. Only four commodity vessels were recorded transiting the Strait of
Ship Recycling Market Update Week 37 2026 | Routes Tighten, Oil Tops $100 & Bangladesh Bids Rise
In this Week 37, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning discuss the latest developments shaping the global ship recycling market, as tightening Middle East shipping routes, oil above USD 100 per barrel, strong freight earnings and limited vessel supply continue to influence recycling decisions.
Geopolitical risk has expanded beyond the Strait of Hormuz, with developments around
Ship Recycling Market Update Week 36 2026 | Strikes Return, Freight Soars & Leaders Cool
In this Week 36, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning discuss the latest developments shaping the global ship recycling market, including renewed conflict in the Gulf, surging oil and freight markets, limited recycling vessel supply, changing prices across Pakistan and Bangladesh, and improving fundamentals in India.
The biggest challenge for ship recyclers and cash buyers re
Ship Recycling Market Update Week 35 2026 | Sanctions Land, Freight Rallies & Supply Thins
In this Week 35, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning discuss the latest developments shaping the global ship recycling market, including new U.S. sanctions affecting Iranian-linked shipping, stronger freight markets, limited recycling vessel supply, and changing conditions across Gadani, Chattogram, Alang and Aliaga.
The central story this week is a growing imbalance between
Ship Recycling Market Update Week 34 2026 | Pakistan Leads, Sanctions Loom & Prices Jump
In this Week 34, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning discuss the latest developments shaping the global ship recycling market, including sharply higher recycling prices across the Indian sub-continent, new Iran sanctions risk, rising oil prices, changing dry freight conditions and renewed vessel activity across Alang and Chattogram.
The biggest market development this week i
Ship Recycling Market Update Week 33 2026 | Hormuz Risk, Freight Reversal & Bangladesh Tanker Demand
In this Week 33, 2026 episode of the GMS Weekly Podcast, Jordan and Ryan discuss the latest developments shaping the global ship recycling market, including renewed uncertainty in the Strait of Hormuz, rising oil prices, reversing dry bulk freight markets, changing recycling demand across South Asia, and the growing competition for available tanker tonnage.
Talks between Washington and Tehran rema
Ship Recycling Market Update Week 32 2026 | Hormuz Shipping Corridor, Freight Surge, Bangladesh Leads, India & Pakistan Buying
In this Week 32, 2026 episode of the GMS Weekly Podcast, Grace and Ryan discuss the latest developments shaping the global ship recycling market, including the temporary Strait of Hormuz shipping corridor, rising dry bulk freight rates, oil prices, recycling demand and market conditions across Bangladesh, India, Pakistan and Turkey.
Iran and Oman have agreed to a temporary shipping corridor throug
Ship Recycling Market Update Week 31 2026 | EU Approves Indian Yards? Hormuz Reopens, Oil Falls, Bangladesh Recovery
In this Week 31, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning discuss the latest developments shaping the global ship recycling industry, including geopolitical tensions, freight markets, oil prices, recycling demand and developments across the major recycling destinations.
Although the ceasefire in the Middle East quickly collapsed, global energy markets responded differently than e
Ship Recycling Market Update Week 30 2026 | Oil Tops $100, Red Sea Risk, Bangladesh Recovery
In this Week 30, 2026 episode of the GMS Weekly Podcast, Ingrid and Henning examine the geopolitical, freight, currency, compliance and operational developments shaping the global ship recycling market.
The maritime conflict expanded beyond the Strait of Hormuz as attacks on Saudi oil tankers in the Red Sea increased concern around the Bab al-Mandeb Strait. Additional disruption at the Caspian Pip
Ship Recycling Market Update Week 29 2026 | Hormuz Blockade, Oil Near $85, Bangladesh Flooding
In this Week 29, 2026 episode of the GMS Weekly Podcast, Grace and Ryan examine the renewed geopolitical, freight, currency and operational pressures shaping the global ship recycling market.
The United States has reinstated its naval blockade of Iranian ports following several days of strikes around Bandar Abbas, Qeshm Island and Sirik. A tanker reportedly heading toward Kharg Island was disabled
Ship Recycling Market Update Week 28 2026 | Hormuz Tensions, Brent Rebound, Chattogram Flooding
In this Week 28, 2026 episode of the GMS Weekly Podcast, Grace and Ryan examine the renewed geopolitical and operational pressures affecting the global ship recycling market. Hostilities have resumed around the Strait of Hormuz, attacks on commercial shipping have increased, and vessel transits are once again facing uncertainty.
Brent crude rebounded toward USD 77 to USD 78 per barrel, while the B
Ship Recycling Market Update Week 27 2026 | Fleet Exits Gulf, Oil Settles, Dollar Pressures Markets
In this Week 27, 2026 episode of the GMS Weekly Podcast, we look at a changing global ship recycling market as the Gulf fleet begins to move after the reopening of Hormuz, while the US dollar becomes the new pressure point for recycling destinations.
Crude flows through Hormuz have crossed 10 million barrels per day, and roughly 550 merchant vessels are preparing to exit the Gulf, including around
Why Ship Recycling Offers Move Quickly | Steel, Ships & Recycling Values Ep. 3
Why can a ship recycling offer change within days, even when the vessel, LDT, and destination remain the same?
In Episode 3 of Steel, Ships, and Recycling Values, Nayeem Noor, VP - Business Development and Communications at GMS, speaks with Jamie Dalzell, Head of the GMS Singapore Office, about why recycling offers can move quickly and what shipowners should watch before deciding whether to recycl
Ship Recycling Market Update Week 26 2026 | Hormuz Traffic Doubles, Oil Falls, Yards Wait
In this Week 26, 2026 episode of the GMS Weekly Podcast, we analyze a turning point for the global ship recycling market as the Strait of Hormuz reopens, vessel traffic begins to recover, Brent crude falls below USD 74 per barrel, and freight markets continue to normalize.
The war premium that supported older vessels trading at sea is now unwinding. Brent has dropped sharply from wartime highs, WT
Ship Recycling Market Update Week 25 2026 | Peace Signed, Brent Drops to $78 & Monsoon Controls Supply
The global ship recycling market has entered a new chapter as the United States and Iran sign an interim peace agreement, reopening the Strait of Hormuz after more than 100 days of closure.
In Week 25 of 2026, Brent crude collapsed to approximately USD 78 per barrel, erasing the entire war premium that had carried prices above USD 126 in late April. WTI also eased toward USD 75, while sanctions re
Why Ship Recycling Prices Differ by Market | Steel, Ships & Recycling Values Ep. 2
Why do ship recycling prices differ between Bangladesh, Pakistan, India, and Turkey when all markets are driven by steel?
In Episode 2 of Steel, Ships, and Recycling Values, Nayeem Noor, VP - Business Development and Communications at GMS, speaks with Jamie Dalzell, Head of the GMS Singapore Office, about why recycling destinations convert steel value into bids differently.
The discussion explains
Ship Recycling Market Update Week 24 2026 | Brent Falls Below $90, Hormuz Deal Nears & Monsoon Rules
The war premium in global shipping and energy markets has finally cracked, but the ship recycling market is still waiting for the final signature.
In Week 24 of 2026, Brent crude fell sharply toward USD 89 per barrel, its lowest level since March, after President Trump suspended planned military strikes against Iran and signalled that a deal to reopen the Strait of Hormuz could be signed as early
Why Steel Prices Drive Ship Recycling Offers | Steel, Ships & Recycling Values Ep. 1
Steel is one of the most important drivers of ship recycling values, but recycling offers are not based on steel prices alone.
In the first episode of Steel, Ships, and Recycling Values, Nayeem Noor, VP - Business Development and Communications at GMS, speaks with Jamie Dalzell, Head of the GMS Singapore Office, about how recyclers assess steel markets when pricing vessels for recycling.
The discu
Ship Recycling Market Update Week 23 2026 | Hormuz Traffic Returns, Brent Eases & Monsoon Window Closes
Traffic is returning through the Strait of Hormuz, but for the global ship recycling market, the timing has come too late.
In Week 23 of 2026, vessel movements through Hormuz improved materially, even though the formal US-Iran framework remains unsigned. Brent crude eased into the USD 95–97 per barrel range as markets priced in de-escalation, while freight markets moved in the opposite direction.
Ship Recycling Market Update Week 22 2026 | US-Iran Deal Struck, Hormuz Reopening, Brent Falls & Monsoon Window Closes
After seven weeks of uncertainty, the global ship recycling market finally received its strongest diplomatic breakthrough yet.
In Week 22 of 2026, the United States and Iran reached a tentative agreement to extend the ceasefire and begin reopening the Strait of Hormuz. The announcement triggered a sharp decline in Brent crude oil prices, with Brent falling back toward USD 96-97 per barrel as marke
Ship Recycling Market Update Week 21 2026 | Hormuz Passage Opens, Monsoon Window Closes
Week 21 marks a major turning point in the global ship recycling market as the strongest reopening signal yet emerges from the Strait of Hormuz. Three supertankers transited the Strait for the first time since March, while President Trump said the United States is in the “final stages” of talks with Iran. Brent crude eased more than 5% to around USD 105 per barrel, and WTI moved below USD 100.
How
Ship Recycling Market Update Week 20 2026 | Brent Rebounds, Freight Stays Strong, Backlog Hardens
Week 20 marks a decisive shift in the global ship recycling market as diplomatic momentum around Hormuz stalls, Brent crude rebounds above USD 107, and freight markets continue strengthening across the dry bulk sector. Despite last week’s temporary optimism surrounding a possible ceasefire framework, owners are still holding onto older vessels as trading earnings remain exceptionally firm.
The Bal
HKC and the Worker’s Voice, Episode 2: EUSRR, Fair Recognition and Worker-Centred Ship Recycling in Alang
In this episode of GMS Podcasts, Dr. Anand Hiremath, CEO of the Sustainable Ship and Offshore Recycling Program, continues his conversation with Mr. Vidhyadhar Rane, General Secretary of the Alang Sosiya Ship Recycling & General Workers Association, on the Hong Kong Convention, EUSRR and the future of worker-centred ship recycling in Alang.
The discussion looks at the EU Ship Recycling Regulat
Ship Recycling Market Update Week 19 2026 | Brent Falls, Freight Surges, Backlog Holds
Week 19 marks a major shift in the global ship recycling market as Brent crude falls sharply, diplomacy re-enters the Hormuz conversation, and freight markets move strongly in the opposite direction. Despite Brent correcting from USD 126.41 per barrel to near USD 100, the expected release of recycling tonnage has not materialized.
The Baltic Dry Index climbed to 2,991, up 12% from the previous wee
HKC and the Worker’s Voice - Episode 1: What the Hong Kong Convention Means for Workers in Alang
In this episode, Dr. Anand Hiremath, CEO of the Sustainable Ship and Offshore Recycling Program, speaks with Mr. Vidhyadhar Rane, General Secretary of the Alang Sosiya Ship Recycling & General Workers’ Association, about what the Hong Kong Convention means for workers in Alang.
The discussion looks at ship recycling from the worker’s perspective. Alang has been part of the global ship recyclin
Ship Recycling Market Update Week 18 2026 | Oil Shock, Hormuz Blockade, Supply Crisis Deepens
Week 18 marks a structural turning point in global ship recycling markets as the situation in the Strait of Hormuz shifts from disruption to sustained blockade. What was previously seen as a temporary constraint has now evolved into a large scale supply shock, with oil markets reacting sharply and reshaping the economics of vessel trading and recycling.
Brent crude surged to multi year highs, brie
Iran War and Shipping Markets: Why Strong Freight Is Delaying Ship Recycling
In this episode of GMS Podcasts, Jamie Dalzell, Head of GMS Singapore, speaks with Nayeem Noor, VP of Business Development at GMS, about how the ongoing Iran war is influencing shipping and ship recycling markets.
With disruption around the Strait of Hormuz, the expectation across the industry was that recycling supply would increase. Historically, geopolitical shocks tend to push older or less ef
Ship Recycling Market Update Week 17 2026 | Hormuz Escalation, Freight Rally, Supply Backlog Builds
Week 17 of 2026 marks a decisive shift in global ship recycling markets as geopolitical risk intensifies and supply constraints deepen.
In this episode, Grace and Ryan break down the latest developments shaping the industry, including the indefinite extension of the US-Iran ceasefire, renewed escalation in the Strait of Hormuz, and its direct impact on oil, freight, and recycling dynamics.
Brent c
EU Ship Recycling Regulation Draft Guidance Explained: What It Means for Alang, Third-Country Yards and Global Recycling
In this episode of GMS Podcasts, Jamie Dalzell, Head of GMS’ Singapore office, speaks with Dr. Anand Hiremath, CEO of the Sustainable Ship and Offshore Recycling Program, about the European Commission’s revised draft guidance on the inclusion of third-country ship recycling facilities under the EU Ship Recycling Regulation (EU SRR).
Although presented as clarification, the revised draft is widely
Ship Recycling Market Update Week 16 2026 | Ceasefire Extended, Freight Surges, Supply Still Tight
Week 16 of 2026 highlights a shift in momentum across global ship recycling markets, as geopolitical tensions remain unresolved and continue to shape market behavior.
In this episode, Grace and Ryan break down the latest developments across Bangladesh, India, Pakistan, and Turkey, with a focus on how macro factors are influencing recycling activity. The expected release of vessel supply has once a
Ship Recycling Market Update Week 15 2026 | War Premium Cracks, Oil Falls, Supply Still Delayed
Week 15 of 2026 marks a potential turning point for the global ship recycling markets, as the long-standing war-driven oil premium begins to ease for the first time in months.
In this episode, Grace and Ryan break down the latest developments across Bangladesh, India, Pakistan, and Turkey, highlighting how falling oil prices, firm freight markets, and stable currencies are shaping recycling sentim
Ship Recycling Market Update Week 14 2026 | Q2 Opens Under Pressure
Week 14 of 2026 sees the global ship recycling markets enter Q2 under continued pressure, with many of the same challenges from Q1 still firmly in place.
In this episode, Ingrid and Henning walk through the latest developments across Bangladesh, India, Pakistan, and Turkey, where recyclers remain active but are still facing a shortage of workable end-of-life vessel supply.
The broader macro enviro
Ship Recycling Market Update Week 13 2026 | Post-Eid Reopening Brings Bullish Bangladesh Mood but Supply Shortage Continues
Week 13 of 2026 sees global ship recycling markets reopen after the Eid holidays, but the expected rebound in activity has yet to arrive. Across Bangladesh, India, Pakistan, and Turkey, recyclers returned to the market facing the same central challenge: a shortage of workable end-of-life vessel supply.
The broader macro environment remains the main driver. Ongoing conflict in the Middle East is st
Ship Recycling Market Update Week 12 2026 | Eid Pause Slows Activity as Oil Prices Surge Above USD 100 and Supply Tightens
Week 12 of 2026 sees global ship recycling markets enter a seasonal pause as Eid holidays slow activity across key recycling destinations including Bangladesh, India, Pakistan, and Turkey. However, underlying market pressures continue to build.
Escalating geopolitical tensions in the Middle East remain the dominant macro driver, with oil prices briefly approaching 120 USD per barrel before stabili
Ship Recycling Market Update Week 11 2026 | Middle East Tensions Push Oil Higher as Bangladesh Leads Recycling Deals
Week 11 of 2026 brings heightened geopolitical tension and its effects on global shipping and ship recycling markets. Escalating conflict in the Middle East is beginning to influence energy markets, trade routes, and demolition pricing across the Indian Subcontinent.
Following military strikes near Iran’s Kharg Island, one of the country’s primary crude export terminals, oil prices moved sharply h
Ship Recycling Market Update Week 10 2026 | Middle East War Disrupts Shipping, Oil Surge, Steel Volatility in Subcontinent
Week 10 of 2026 brings major geopolitical disruption to the global shipping and ship recycling markets as escalating conflict in the Middle East sends shockwaves through energy markets, trade routes, and demolition pricing across the Indian Subcontinent.
Following the closure of the Strait of Hormuz and rising regional instability, oil prices surged sharply above USD 110 per barrel, driving higher
Ship Recycling Market Update Week 09 2026 | Demo Prices Under Pressure, Subcontinent Caution, Steel & Currency Volatility Deepen
Week 09 of 2026 shows a ship recycling market operating cautiously as steel price weakness, currency volatility, and macro uncertainty continue to influence buyer behavior across the Indian Subcontinent.
Even without excessive vessel supply, demolition prices have struggled to move higher. Recyclers in Bangladesh, India, and Pakistan are maintaining strict pricing discipline as local steel fundame
Ship Recycling Market Update Week 8 2026 | Bangladesh Reclaims Top Spot, 151K LDT Surge, Steel Volatility and Ramadan Impact
Week 8 of 2026 delivered a volatile yet constructive shift in the global ship recycling market. Freight rates, oil prices, steel fundamentals, and currencies all moved sharply before partially retracing by the end of the week. Despite Chinese New Year holidays, recycling supply surprised the market with approximately 151,000 LDT across 16 vessels delivered or arrived across India, Bangladesh, and
Ship Recycling Market Update | Bangladesh Election Result, Pakistan Leads, India Steel Falls, IRRC Compliance – Week 7 2026
The global ship recycling market saw another shift in Week 7 of 2026 as key fundamentals moved in different directions across the sub-continent. The Baltic Dry Index declined by 0.6 percent, mainly due to weaker Capesize and Panamax performance, while Supramax rates improved. Oil prices held near USD 62.8 per barrel as markets continued to monitor U.S. and Iran tensions.
In this week’s episode, In
Ship Recycling Market Update | Pakistan Leads, Bangladesh Election Watch, India Steel Rebounds, Turkey Quiet – Week 6 2026
The global ship recycling market saw another sharp shift this week as the U.S. dollar weakened across nearly all recycling destinations, providing fresh support to buyer sentiment across the sub-continent. Steel fundamentals also strengthened significantly, with India, Pakistan, and Bangladesh reporting notable weekly jumps in local steel plate prices.
In this week’s ship recycling market podcast,
Ship Recycling Market Update | Pakistan Gains, India Under Pressure, Bangladesh Cautious, Turkey Steady – Week 5 2026
The global ship recycling market enters February under renewed pressure as currency volatility, rising oil prices, and shifting fundamentals reshape buyer behavior across key recycling destinations.
In this week’s market update, Ingrid and Henning discuss how Pakistan strengthens its position following another HKC-approved yard and firm steel fundamentals, while Bangladesh returns to the bidding t
Ship Recycling Market Update - Bangladesh Slips, Pakistan Rises, India Selective, Turkey Busy | Week 4 2026
The global ship recycling market continues to shift as volatility, currency pressure, and limited vessel supply reshape buyer behavior across key destinations.
In this episode, Ingrid and Henning discuss the latest developments across the Indian sub-continent and Turkey, as market rankings reshuffle and sentiment moves rapidly week to week.
Bangladesh falls to the bottom of the regional pricing ta
Ship Recycling Market Update – Bangladesh Leads, India Volatile, Pakistan Waiting, Turkey Sees Movement | Week 3 2026
The global ship recycling market remains cautious as currency pressure, steel price volatility, and limited vessel supply continue to shape buyer behavior across key destinations.
In this episode, Ingrid and Henning break down the latest developments across the Indian sub-continent and Turkey, as recyclers navigate weakening local currencies, uneven steel plate prices, and selective demand for ton
Offshore Recycling Operations for FPSOs FSOs and Rigs Safe Towage and Compliance
Offshore units are not conventional ships, and recycling them safely requires a different level of planning, structural scrutiny, and environmental control. In this episode of Beyond the Last Voyage, Jamie Dalzell, Head of GMS Singapore, is joined again by Capt. Yogesh Rehani, Head of Operations at GMS, to discuss how GMS manages the last voyage of FPSOs, FSOs, semi submersibles, and jack up rigs.
Ship Recycling Market Update Week 2 2026 | Bangladesh Rebounds India Slips Pakistan Steady Turkey Weak Prices Near $400
Week 2 of 2026 brings heightened volatility to the global ship recycling market as geopolitical tensions, rising oil prices and unstable currencies reshape buyer sentiment across the sub-continent.
In this episode, Henning and Ingrid explain why USD 400 per LDT has become the key pricing level for shipowners, how Bangladesh has surged back to the top of the market, why India’s New Year rebound qui
'As Is Where Is' Ship Recycling Operations and Last Voyage Risk Management
When a vessel is sold on an As Is Where Is basis, every operational, safety, and environmental risk transfers to the buyer. This first episode of Beyond the Last Voyage explains what that really means inside the global ship recycling industry.
Hosted by Jamie Dalzell, Head of GMS Singapore, this episode features Capt. Yogesh Rehani, Head of Operations at GMS, who has spent more than 25 years manag
Ship Recycling Market Update Week 1 2026 | India Rebounds Bangladesh Weakens Pakistan Steady Turkey Quiet HKC and Prices
Week 1 of 2026 starts with heavy geopolitical noise and mixed macro signals, and ship recycling markets respond with a clear reshuffle across the main destinations. In this episode, Ingrid and Henning cover what is moving sentiment, how currencies and steel are shaping bids, and where recycling candidates are most likely to end up in the near term.
This week in the markets:
India (Alang) strengthe
Ship Recycling Market Update - Week 52, 2025 | Year-End Review | Bangladesh, India, Pakistan, Turkey | HKC Progress, Steel Prices, Freight Outlook
As 2025 comes to a close, GMS Weekly - Week 52 delivers a comprehensive year-end overview of the global ship recycling and demolition market, highlighting key trends, pricing movements, and compliance developments across the major recycling destinations.
In this episode, Henning and Ingrid reflect on a turbulent year shaped by scarce vessel supply, declining steel plate prices, volatile currencies
Safer Shifts at Scale: Training Habits That Travel Across Ship Recycling Yards
In this episode, Jamie Dalzell, Head of GMS Singapore, speaks with Dr. Anand Hiremath, GMS Chief Sustainability Officer and lead of SSORP, the Sustainable Ship and Offshore Recycling Program.
In ship recycling, many incidents happen when routine takes over and basic checks are skipped to keep work moving. This conversation focuses on the small actions that prevent harm on the ground: the pause bef
Ship Recycling Market Update - Week 51, 2025 | Bangladesh, India, Pakistan, Turkey | HKC Progress, Steel Price Moves, Freight Softer
In this Week 51 episode, Ingrid and Henning break down the latest ship recycling and demolition market signals across Bangladesh, India (Alang), Pakistan (Gadani), and Turkey (Aliaga).
This week delivers a sharp reminder of December volatility: freight markets continue to ease, the U.S. Dollar remains unstable, oil holds at relatively low levels, and local steel plate prices shift across the sub-c
Ship Recycling Insurance Explained: The Future of Maritime Risk Management (Part 3)
In Part 3 of Ship Recycling Insurance Explained, host Jamie Dalzell and Paulina, Head of Insurance at GMS, look ahead at the technologies, regulations, and ESG expectations that will shape the next phase of maritime risk management. As ship recycling becomes more regulated and data driven, owners, insurers, and recycling partners rely on stronger verification systems and real-time information to m
GMS Weekly Podcast | Week 50 Ship Recycling Market Update (Dec 12, 2025): “December Downers”, BDI -4%, Oil $57.61
In this Week 50 edition of the GMS Weekly Podcast, Grace and Ryan break down the latest ship recycling / demolition market developments across Bangladesh, India, Pakistan, and Turkey.
Week 50 delivers “December Downers” as sentiment weakens into year-end: the Baltic Dry Index (BDI) slips nearly 4% (with Capes down 5.6%), and oil retreats over 3% to around $57.61/bbl. A strong U.S. Dollar, softer l
Ship Recycling Insurance Explained: Managing Market, Political, and Compliance Risk (Part 2)
In Part 2 of Ship Recycling Insurance Explained, Jamie Dalzell and Paulina, Head of Insurance at GMS, examine how insurance helps manage market volatility, political risk, and compliance pressures in global ship recycling. Many recycling destinations face currency restrictions, regulatory challenges, and shifting geopolitical conditions, and this episode explains how structured insurance programs
GMS Weekly Podcast | Week 49 Ship Recycling Market Update: Global Slowdown, HKC Momentum, and Year-End Trends
In this Week 49 edition of the GMS Weekly Podcast, Grace and Ryan review the latest ship recycling market developments across Bangladesh, India, Pakistan, and Turkey.
The final weeks of 2025 brought softer steel prices, weaker currencies, and a continued shortage of available tonnage. The Baltic Dry Index slipped about 3 percent, oil steadied near 59 dollars 70 cents a barrel, and local plate leve
Ship Recycling Insurance Explained: Why Insurance Matters in the Final Voyage (Part 1)
Welcome to Part 1 of the GMS Podcast series Ship Recycling Insurance Explained. In this episode, host Jamie Dalzell speaks with Paulina, Head of Insurance at GMS, about why insurance is a critical part of every ship’s final voyage to the recycling yard. Ship recycling carries unique navigational, environmental, and liability risks, and strong insurance protection is essential for safe and complian
GMS Weekly Podcast | Week 48 Ship Recycling Market Update: Stumped, Yet Primed
In this Week 48 edition of the GMS Weekly Podcast, hosts Ingrid and Henning review another eventful period in the global ship recycling market as the industry navigates uneven fundamentals and prepares for the final month of the year.
Market conditions across South Asia remained under pressure. Steel plate prices declined in Bangladesh, India, Pakistan and China. The US dollar weakened in all majo
GMS Weekly Podcast | Week 47 Ship Recycling Market Update: Forums and Frictions
In this 2025 Week 47 edition of the GMS Weekly Podcast, host Ingrid and co-host Henning review another challenging week in global ship recycling as forums and frictions shape sentiment across South Asia. Oil futures slipped to around USD 57.7 per barrel, freight rates stayed active but below last year’s highs, local steel plate prices weakened in key recycling destinations, and currency devaluatio
Inside the Markets: Athens Edition (November 2025) | Greek Shipowners, Ship Recycling Prices and Currency Volatility
In this new episode of Inside the Markets from GMS Podcasts, host Jamie Dalzell is joined in Athens by Ilias Stasinos of GMS Greece to break down the latest trends in the ship recycling market as 2025 comes to a close. Together, they look at how global freight rates, weaker currencies in the subcontinent, and softer scrap steel prices are shaping ship recycling decisions for Greek owners and recyc
GMS Weekly Podcast | Week 46 Ship Recycling Market Update: Desperate Downers
In this 2025 Week 46 edition of the GMS Weekly Podcast, host Grace and co-host Ryan review global ship recycling markets as 2025 enters its final stretch. Falling steel prices, a firm U.S. Dollar, and limited vessel supply kept sentiment weak across South Asia.
Global Market Overview
Market volatility persisted through mid-November. The Baltic Dry Index continued to rise across all sub-sectors, wh
GMS Weekly Podcast | Week 45 Ship Recycling Market Recap: “Trading Day? Some Other Day.”
In this Week 45 edition of the GMS Weekly Podcast, global ship recycling markets remain subdued as weak fundamentals, falling steel prices, and currency volatility continue to pressure recyclers across South Asia.
From Bangladesh and India to Pakistan and Turkey, sentiment stays fragile while inflation, sanctions, and lack of supply define the tone.
Global Market Overview
Markets limped through ea
Inside the Markets - Dubai Edition (November 2025) | Ship Recycling Trends, Currency Volatility, and Subcontinent Price Outlook
In this new episode from GMS Podcasts, host Jamie Dalzell is joined by Simos Dimitriou, Head of the GMS Dubai Office, to discuss how global economic pressures, shifting currencies, and fluctuating steel prices are shaping the ship recycling markets across the subcontinent.
As oil prices slide and OPEC+ announces supply cutbacks, recyclers in India, Bangladesh, and Pakistan face a stultifying marke
GMS Weekly Podcast | Week 44 Ship Recycling Market Recap: “Halloween November?” Global Tonnage Tumbles, Currencies Slide, and Sentiment Sinks
In this Week 44 edition of the GMS Weekly Podcast, the global ship recycling industry closes October on a haunting note as weak fundamentals, volatile currencies, and scarce tonnage continue to shadow the sub-continent markets. From India and Bangladesh to Pakistan and Turkey, sentiment stays fragile while inflation trends, oil movements, and new HKC developments keep recyclers on edge.
Global Mar
Inside the Markets: India Update – October 2025 | Alang Resilience, Pricing Trends, and Compliance Leadership
India’s ship recycling market remains a cornerstone of global green recycling, combining scale, compliance, and experience. In this episode of Inside the Markets from GMS Podcasts, Jamie Dalzell speaks with Kiran Thorat, Head of GMS India Office, about the current sentiment in Alang, market pricing trends, and how India continues to lead through discipline and compliance.
As South Asia experiences
GMS Weekly Podcast | Week 43 Ship Recycling Market Recap: "Woefully Slow" Global Freight Holds, Oil Rises, and Sub-Continent Prices Sink
In this Week 43 edition of the GMS Weekly Podcast, we review another subdued week in the global ship recycling markets as currencies fluctuated, steel plate prices softened, and sentiment across India, Bangladesh, Pakistan, and Turkey remained weak.
Global Market Overview
Markets slowed across the board as the Baltic Dry Index slipped about 3.2% to its lowest level since early October. Oil prices
Inside the Markets: Japan Update - October 2025 | Recycling Trends and Hong Kong Convention Impact
Japan’s ship recycling market continues to demonstrate stability and foresight amid a softer global environment. In this episode of Inside the Markets from GMS Podcasts, Jamie Dalzell, Head of GMS Singapore Office , speaks with Amit Malhotra, Head of GMS Japan Office, about how Japanese shipowners are adapting to new compliance standards under the Hong Kong Convention and preparing for long-term s
GMS Weekly Podcast | Week 42 Ship Recycling Market Recap: "Certainly Uncertain" Global Freight Gains, Oil Price Slump, and Sub-Continent Slide
In this Week 42 edition of the GMS Weekly Podcast, we review another turbulent week in the global ship recycling markets, shaped by volatile currencies, a softening steel market, and shifting regional sentiment across India, Bangladesh, Pakistan, and Turkey.
Global Market Overview
Freight markets strengthened slightly as the Baltic Dry Index gained just over 1%, supported by Capesize, Panamax, and
Inside the Markets - Korea Edition: Holding Course in a Volatile Recycling Market
Asia’s recycling markets are shifting, but Korea is staying steady. In this Seoul special of Inside the Markets from GMS Podcasts, host Jamie Dalzell speaks with Gyungbae Gil, Head of the GMS Korea Office, to explore how Korean shipowners are navigating a volatile environment with patience, discipline, and a long-term view.
Gyungbae explains how falling steel prices, fluctuating currencies, and un
GMS Weekly Podcast | Week 41 Ship Recycling Market Recap - “Whoananza?!” Global Tensions, Currency Slides, and the Sub-Continent in Flux
In this Week 41 edition of the GMS Weekly Podcast, we review another dramatic week across global ship recycling, marked by geopolitical uncertainty, volatile currencies, and weakening steel fundamentals across India, Bangladesh, Pakistan, and Turkey.
Global Market Overview
• Global markets endured a turbulent week as renewed Middle East tensions and wider economic jitters weighed on sentiment.
•
Inside the Markets - Greece Edition: Greek Owners Hold Firm as Freight Softens
Greek shipping remains steady while global markets show signs of fatigue. In this Athens edition of Inside the Markets from GMS Podcasts, host Jamie speaks with Ilias Stasinos, Trader at GMS Greece, about how owners are managing the balance between strong freight earnings and weaker recycling prices.
Oil prices have fallen to around 60 dollars per barrel, freight indices have slipped, and steel ma
GMS Weekly Podcast | Week 40 Ship Recycling Market Recap - Spooky October Begins as Currencies Weaken and Steel Slips
In this Week 40 edition of the GMS Weekly Podcast, we review the latest movements across global ship recycling.
As October begins, markets reflect a sharp slowdown with weaker currencies, falling oil, and softer steel prices across India, Bangladesh, Pakistan, and Turkey.
Global Market Overview
• Global trading indices fell by about sixteen percent, marking the sharpest weekly decline since Januar
Europe’s Ship Recycling Ambitions: Policy vs. Reality
Europe has set ambitious goals to expand ship recycling capacity and supply “green steel” to its industries. But is the reality matching the rhetoric? In this episode of the GMS Podcast, Chief Sustainability Officer Dr. Anand Heremath joins host Jamie Dalzell to explore the data, the regulations, and the practical challenges shaping Europe’s ship recycling future.
Key discussion points:
How recy
GMS Weekly Podcast | Week 39 Ship Recycling Recap – India’s Turbulent Slide, Bangladesh Bypassed, Pakistan Bags Bulk, Turkey Snoozes
In this Week 39 edition of the GMS Weekly Podcast, we unpack the latest ship-recycling market trends, freight dynamics, currency and steel movements, and key regional updates from India, Bangladesh, Pakistan, and Turkey.
This week’s theme: Disconnect.
Global Market Overview
Dry bulk freight turned volatile: Baltic Dry Index ended the week with a net 2.5 % gain, driven by Capesize strength of abo
Inside the Markets - Greece Edition: Freight Strength vs Recycling Volatility
Greece’s shipping center remains active. In this Athens edition of Inside the Markets from GMS Podcasts, host Jamie speaks with Vagelis Chatzigiannis, Head of GMS Greece Office, about freight earnings and ship recycling.
Freight markets gained 3.6% this week, even as the Baltic Dry Index showed panamax and supramax segments down about 2%-3%. Capesize vessels rose about 1% and tanker freight rates
GMS Weekly Podcast | Week 38 Ship Recycling Recap – India’s Suspect Imports, Bangladesh Sporadic, Pakistan Waiting, Turkey Sliding
In this Week 38 edition of the GMS Weekly Podcast, we cover the latest ship-recycling market trends, freight activity, steel prices, and key port updates from India, Bangladesh, Pakistan, and Turkey.
This week’s theme: September Serene?
Global Market Overview
Freight activity stayed mixed as the Baltic Dry Index held steady: Capesize gained about 1 percent, while Panamax and Supramax fell nearly
Inside the Markets - Hamburg Edition: German Shipowners Trade Hard, Recycle Later
Northern Europe’s shipping heartbeat is pulsing with profit. In this Hamburg special of Inside the Markets from GMS Podcasts, host Jamie speaks with Henning Prinzen, Head of the GMS Hamburg Office, to examine how German shipowners are prioritizing trading income over ship recycling.
Henning explains how high charter rates and steady freight earnings across bulkers, tankers and container feeders ke
GMS Weekly Podcast | Week 37 Ship Recycling Recap – India’s Big LNG Splash, Bangladesh Bleak, Pakistan Waiting, Turkey Idle
In this Week 37 edition of the GMS Weekly Podcast, we cover the latest ship recycling market trends, freight activity, steel prices, and key port updates from Bangladesh, India, Pakistan, and Turkey.
This week’s theme: Governing Goof-Ups!
Global Market Overview
Freight activity strengthened as the Baltic Dry Index rose 7.4 percent, with Capesize up 1.0 percent, Panamax 0.4 percent, and Supramax
Deep Water Recovery vs. Alang: What Ship Owners Must Know About HKC-Compliant Recycling
In this GMS Podcast episode, host Ingrid sits down with Dr. Anand Hiremath, CEO of the Sustainable Ship and Offshore Recycling Program (SSORP), to examine two sharply different approaches to ship recycling and what they mean for ship owners worldwide.
The conversation starts with Canada’s Deep Water Recovery case in British Columbia, where regulators found repeated toxic discharges of heavy metals
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