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World's largest cash buyer disappointed in EU rejection of Alang

Anil Sharma, CEO of the world's largest cash buyer, GMS, is disappointed by the EU's decision to reject two yards in India, Alang. He projects that the scrap value of European ships will drop by 60 to 80 percent if they are to scrapped according to EU rules.

Photo: Marine Money

HAMBURG

The CEO of the world's largest cash buyer, GMS, is disappointed that two shipbreaking yards in India were not approved to scrap European-flagged ships. But he does not believe it will have a significant impact on the shipping companies' use of non-European beaching yards.

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