GMS Podcasts
GMS is the world’s largest 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 recycling 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
In this Week 30, 2026 episode of the GMS Weekly Podcast, Grace and Ryan 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...
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 ...
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, whi...
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, includin...
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 t...
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 h...
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, whi...
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 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 s...
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 discussion looks at why plate prices mat...
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. The Baltic Dry Index climbed ...
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 markets began pricing in the prospect of...
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.
However, for ship recyclin...
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 Baltic Dry Index breaking above ...
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 Regulation from the worker’s perspec...
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 week, with Capesize earnings surging a...
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 recycling industry for decades,...
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, briefly reaching USD 126 per barrel bef...
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 efficient vessels toward demolition. ...
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 crude has rebounded toward the mid-9...
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