BBC News Features GMS on Shadow Fleet Ships, Sanctions and Recycling Risks

BBC News features GMS and Dr. Anil Sharma, Founder and CEO of GMS, in a report on the growing risks linked to ageing shadow fleet vessels, sanctioned ships, and the challenges of safely removing end-of-life ships from global trade. The report looks at how older tankers and sanctioned vessels continue to operate on the margins of the oil trade, often with unclear ownership, limited insurance, and increasing safety concerns. It also highlights the legal and regulatory challenges involved in recycling sanctioned ships, and the need for responsible solutions to decommission high-risk vessels before they create environmental, operational, or safety incidents. GMS has recently acquired four sanctioned container ships under a special licence from the Office of Foreign Assets Control, an arm of the US Treasury. The report also discusses the wider concern around ageing tankers, including very large crude carriers capable of carrying up to two million barrels of oil per voyage. Featured in the report: Dr. Anil Sharma, Founder and CEO, GMS Courtesy: BBC News David Waddell, Journalist About GMS: GMS is the world’s largest cash buyer of ships and offshore assets for recycling. For decades, GMS has worked with shipowners, governments, financial institutions, and recycling facilities to support safe, responsible, and compliant ship recycling. Learn more about GMS: https://www.gmsinc.net Subscribe to read weekly GMS market insights: https://www.gmsinc.net/info/GMS-Weekl... Connect with GMS: LinkedIn:   / gms-leadership   Disclaimer: This video is shared for informational and educational purposes, with full courtesy to BBC News and David Waddell. All rights remain with their respective owners.