GMS has launched a Ship Recycling Portal, a digital platform with the goal of transforming the ship recycling industry. This platform aims to make the buying and selling of end-of-life vessels more convenient, transparent, and efficient.
The Ship Recycling Portal is essentially an online marketplace designed specifically for the sale of ships to shipyards for recycling. It offers ship recyclers the flexibility to make real-time decisions on which vessels they want to purchase, all from the comfort of their offices or homes.
Dr. Anil Sharma, the Founder and CEO of GMS, highlighted the importance of bringing ship recycling into the digital age. He explained that as the supply of ships for recycling grows and the need for transparency increases over the next decade, it’s the right time to introduce online ship sales. The Ship Recycling Portal represents more than just a product; it’s a significant shift in the industry. It centralizes and simplifies the transaction process, eliminating complexities and uncertainties that have long been associated with ship recycling. The portal offers a user-friendly platform that is both transparent and reliable, revolutionizing the ship recycling industry.
While GMS initiated and developed the Ship Recycling Portal, it will be open to other shipowners and cash buyers. The platform aims to become the primary method for delivering vessels to ship recycling yards. Additionally, it allows GMS to provide its extensive services, knowledge, and sales capabilities to a wider range of buyers.
Mr. Komalkant Sharma, Chairman of Leela Ship Recycling Group, praised the portal as a significant advancement in the industry. He emphasized that it goes beyond just being a technological milestone; it’s a functional breakthrough that greatly improves the ease and transparency of purchasing end-of-life vessels in real time. It’s not just a step forward but a quantum leap that defines the future of ship recycling.
According to GMS, the key features of the Ship Recycling Portal include:
- Transparency: Real-time auctions display the prices offered by other ship recyclers, allowing buyers to make informed decisions.
- Convenience: Ship recyclers can purchase a ship whenever and wherever they want, eliminating the need for face-to-face negotiations in an office.
- Flexibility: Buyers have the freedom to choose which ships to buy and how much to pay.
- Broader Participation: In the future, access to the platform will be extended to ship owners and other cash buyers, further expanding its reach within the industry.