GMS Podcasts

In this episode of GMS Weekly, hosts Henning and Ingrid chart another week of volatility in global ship recycling. From rising inflation to stalled tonnage flows, the sector continues to navigate unpredictable waters under pressure from geopolitics, monsoons, and evolving HKC regulations.

We cover:

Global Headwinds: Inflation ticks up, oil slides, and the Baltic Dry Index hits a 10-month high

Regional Shake-Up: Pakistan leads pricing tables with new bulkers incoming; India holds firm with 100+ certified yards and fresh LNG tonnage; Bangladesh shows activity but struggles with documentation delays

Turkey’s Retreat: The Lira freefalls past 40.40 while Aliaga ends the week empty-handed

Also in focus:

Impact of Red Sea disruptions on container recycling

Ongoing tariff threats and how they’re reshaping trading behavior

Delivery delays and buyer sentiment shifts under HKC compliance hurdles

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In Episode 4 of the GMS Hong Kong Convention Series, Ingrid and Henning move the focus from yard-level transformation to strategic impact. The central question: Can compliance with the Hong Kong Convention unlock capital, reduce risk, and create real commercial value?

This episode explains how ESG-aligned recycling, supported by frameworks like the Sustainable Ship and Offshore Recycling Program (SSORP), is reshaping how the industry defines success. With practical insights from shipowners, flag states, and financial institutions, listeners will understand how transparency, traceability, and verified metrics are now essential in maritime decision-making.

This conversation is relevant for shipowners preparing for green financing, insurers assessing risk, or regulators tracking how ESG moves from reporting to real-world implementation.

ESG expectations in ship recycling and why they matter now

How HKC compliance improves access to financing and insurance

The role of SSORP in supporting audit-ready and verifiable reporting

What stakeholders like flags and banks expect from shipowners today

How data-driven ESG reporting can provide a competitive edge

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In this episode of GMS Weekly, hosts Henning and Ingrid unpack the shifting tides in global ship recycling for Week 28. As monsoon markets drag and Trump’s tariff rhetoric escalates, volatility continues to plague the sector.

We cover:

Rising macroeconomic tensions: Tariff threats on Bangladesh to Brazil, Turkish Lira cracks 40, and steel prices climb across the board

Subcontinent dynamics: India stays steady with over 100 HKC-compliant yards and strong tonnage flow; Bangladesh hits sub-USD 400/LDT lows amid regulatory confusion; Pakistan books new tonnage with interim HKC certs

A rare win for Turkey: Despite currency collapse, Aliaga concludes a general cargo vessel sale

Stay ahead with our insight into:

Market pricing trends and sentiment shifts

Regulatory adaptation under HKC

Strategic options for owners and cash buyers

Subscribe to GMS Weekly for complete demo pricing, port-by-port vessel positions, and tonnage intelligence: https://www.gmsinc.net/get-in-touch?#SubscribeToGMS

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In this third episode of the GMS Hong Kong Convention Series, Ingrid and Henning focus on the critical role of recycling yards under the Hong Kong Convention, which came into force on 26 June 2025.

Listeners will hear how yards across India, Bangladesh, Pakistan, and Türkiye are transforming, with hundreds now HKC-certified or actively upgrading to meet international standards. This episode explains how yard-level improvements, supported by Ship Recycling Facility Plans and third-party audits, contribute to global ESG goals and build trust across the maritime value chain.

The episode also highlights GMS’s Sustainable Ship and Offshore Recycling Program (SSORP), which supports recycling yards and shipowners alike through training, documentation, and carbon reporting, with verification by LRQA.

For shipowners, financiers, insurers, and regulators, HKC-ready yards offer more than compliance; they reduce risk, protect investments, and enhance transparency.

Yard-level progress and capacity growth in key recycling countries

Why HKC-compliant yards benefit owners, financiers, and insurers

How SSORP supports ground-level implementation and ESG audits

Real-world impact of cultural change, training, and certification

In this episode of GMS Weekly, hosts Henning, Ryan, Grace, and Ingrid break down the major market movements in global ship recycling for Week 27 (July 4, 2025). With the Hong Kong Convention now officially in force, South Asia's ship recycling landscape is shifting fast. India holds steady with over 100 HKC-compliant yards, while Bangladesh and Pakistan scramble to upgrade amid declining prices and tighter tonnage supply.

We cover:

Macroeconomic pressures: oil at USD 66.5/barrel, inflation woes, and a falling Baltic Exchange.

Subcontinent sentiment: India's predictability, Bangladesh's sub-USD 400/LDT offers, and Pakistan's early upgrade efforts.

Turkey’s ongoing regulatory red tape and a fire incident dampening its yard activity.

Stay ahead with our analysis of:

Regional pricing trends

Compliance dynamics under HKC

Where to position your vessels next

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In this second episode of the GMS Hong Kong Convention Series, Ingrid and Henning dive into what the HKC’s entry into force on 26 June 2025 really means for shipowners.

From compliance requirements to commercial benefits, this episode breaks down the practical steps shipowners must take now. Learn why an Inventory of Hazardous Materials (IHM) is essential, how to select an HKC-compliant yard, and where documentation plays a crucial role.

They also explore how the Sustainable Ship and Offshore Recycling Program (SSORP) supports owners through every stage, with verified ESG data, carbon footprint tracking, and certified procedures from LRQA.

If you are an owner, this episode is your roadmap to stay compliant, protect your brand, and lead the market shift toward responsible recycling.

Key Points:

Next Episode:

How ship recycling yards are upgrading for HKC and what that means for the entire maritime chain.

In the final episode of the GMS podcast series on the Hong Kong Convention, we look ahead to what happens after HKC enters into force on June 26, 2025. Will the Convention deliver its promise of safe and sustainable ship recycling globally? Or will legal conflicts with the Basel Convention slow down its impact?

Host Henning speaks with Dr. Nikos Mikelis and Dr. Anand Hiremath about what the maritime industry needs to prepare for now.

Key questions explored:

This is an essential conversation for anyone involved in maritime operations, ESG, policy, or ship end-of-life planning.

Join the Final GMS Webinar: Charting the Future

On June 26, 2025, GMS is hosting a key live webinar session:

This session features international regulators, policymakers, and industry leaders discussing the HKC–Basel conflict and how to ensure a practical path forward.

Register here: https://us06web.zoom.us/webinar/register/9417485435018/WN_kLd2bjyvRxuaO3ZnZ1o3jg

One registration gives you access to all three parts of the webinar series.

Subscribe to the GMS Podcast and follow GMS on LinkedIn to stay informed.

In Part 2 of the GMS podcast series on the Hong Kong Convention (HKC), we focus on what happened after the Convention was adopted in 2009. Why did it take 16 years to come into force? What practical and political challenges slowed down global adoption?

Host Henning is joined again by Dr. Nikos Mikelis, a central figure in HKC’s development, and Dr. Anand Hiremath, Chief Sustainability Officer at GMS, who has been directly involved in transforming ship recycling yards in South Asia.

Topics covered in this episode:

This episode highlights the practical journey from policy to real change, based on over a decade of on-the-ground work.

Register for the GMS HKC Webinar Series

To mark the entry into force of HKC on June 26, 2025, GMS is hosting a three-part live webinar series titled:

The first session, “From Convention to Transformation,” takes place on June 25, 2025.

Register here: https://us06web.zoom.us/webinar/register/9417485435018/WN_kLd2bjyvRxuaO3ZnZ1o3jg

Join leaders from across the maritime sector to explore lessons from implementation and what global compliance means moving forward.

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Episode 1: The Origin Story of the Hong Kong Convention

This episode launches the GMS exclusive podcast series on the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC).

Host Henning is joined by Dr. Nikos Mikelis, former senior official at the IMO and key contributor to the HKC, and Dr. Anand Hiremath, Chief Sustainability Officer at GMS, to explore:

Why existing international regulations failed to address unsafe ship recycling

What led the IMO to create a new, ship-specific framework

How the Hong Kong Convention was developed from the ground up

What “safe and environmentally sound” recycling actually means in practice

This episode provides critical background for understanding the Convention before it enters into force on June 26, 2025.

To mark this milestone, GMS is hosting a live three-part webinar series:

The first session, “From Convention to Transformation”, takes place on June 25, 2025.

Register here: https://us06web.zoom.us/webinar/register/9417485435018/WN_kLd2bjyvRxuaO3ZnZ1o3jg

Join global maritime leaders, policymakers, and industry stakeholders as they discuss HKC implementation, legal conflicts with Basel, and the future of ship recycling.

Stay updated on future episodes by subscribing to the GMS Podcast and following GMS on LinkedIn.

Ingrid and Henning kick off the GMS Hong Kong Convention Series with a clear look at how the new regulations will reshape ship recycling. They trace the story from adoption in May 2009 to the moment the final ratifications locked the Hong Kong Convention into force on 26 June 2025.

Along the way you will hear why early movers such as Norway, Japan, and four pioneering Indian yards matter; how ClassNK helped craft practical yard procedures; and where the EU’s existing rules sit in the bigger picture.

Key points

Next episode: What shipowners need to do before 26 June 2025