Leading offshore cash buyer of vessels

ESG

Our primary focus is to meet and exceed the increasingly stringent ESG conditions required during the decommissioning of offshore vessels. Working closely with clients to successfully conclude numerous projects over the last 2 decades, we have developed offshore specific systems and processes to meet even the most exacting ESG requirements. As a top-end provider of end-to-end solutions, drilling contractor clients benefit from the inclusion of GMS’s Sustainable Ship & Offshore Recycling Program (SSORP) and protection from future liabilities (and headline risk). Our expertise in the field means we can meet all of our client’s highest standards and most rigorous ESG demands.

Compliance

GMS continues to play a key role in global offshore decommissioning, working closely to ensure complaince with the Hong Kong Convention and unifying recycling facilities with the right project. The complexity of rig recycling requires solid experience and expertise to ensure recycling processes are montiroed and complied with and an overall compliance towards the safe recycling of the asset, is delivered by the nominated yard. Our in-house SSORP team is always on the ground to monitor compliance, which can include a full yard audit prior to initiated recycling, Gap analysis, the intended rig recycling process, development of an Inventory of Hazardous Materials (IHM – also done in-house by our qualified inspectors) and a transparent audit trail for the disposal of hazardous materials. Supervision during the recycling process is a vital component of any offshore decommissioning activity and provides asset owners with a comprehensive completion report covering 281 data points and reassurance of compliance.

Added Value

GMS has the technical and commercial expertise to undertake offshore decom projects of any size and complexity. Our unmatched experience in the ship recycling industry has not only helped facilitate complex deliveries of multiple drilling rigs on an “as is” basis with seamless takeovers, but has also resulted in GMS concluding successful transactions with nearly all of the largest drilling contractors in the world. As the world’s first ISO 9001 Certified Buyer or vessels for recycling, our ongoing commitment to quality means clients can expect the highest standards of decommissioning alongside an undertaking to maximize asset residual value.

Expertise

30+ Year of
experience

200+Green Ships Recycled

Since 2015, GMS has been instrumental in the successful decommissioning of more than 70 offshore assets Semi-submersibles, Jack Ups, Drill Ships, Pipe Layers, Crane Barges, FPSOs, FSOs, Tugs and AHTs. We have concluded the largest en-bloc offshore recycling deal ever, involving 5 semisubmersibles with a total lightweight in excess of 85,000 Tons. Since 2000, GMS has recycled more than 1100 vessels on an “AS IS WHERE IS” basis – greater than any other Buyer in the world – achieving an unmatched towage experience with more than 150 Trans-Atlantic, Trans-Pacific, and Far East tows. Our team of experienced operators concluded one of the longest tows in recycling history - a semisubmersible rig from Brazil to Singapore and the heaviest dry double-tow ever to be performed with a total lightweight in excess of 42,000 Tons. Many returning clients speak to our expertise and commitment to client satisfaction.