GMS Greenlights Responsible Recycling for Sanctioned Oil Tankers

Dubai-based GMS received approval from the U.S. government to responsibly recycle two sanctions-hit oil tankers, Marinera and Galileo. This follows their earlier clearance to recycle four sanctions-impacted container ships. The move addresses environmental and safety concerns associated with the shadow fleet of tankers transporting sanctioned oil.

Dubai-based ship recycler GMS has received the U.S. government's nod to dismantle two sanctions-affected oil tankers. This decision comes months after the company secured approval to recycle four other vessels marked by sanctions.

The issue of 'shadow fleet' tankers, which transport Iranian or Russian oil without adequate oversight, has drawn increased attention. Such vessels are seen as posing environmental and safety risks, leading major shipowners to advocate for their expedited scrapping.

GMS confirmed it transacted with U.S. authorities without monetary exchange to the former owners of these vessels. The tankers, Marinera and Galileo, are set for responsible recycling, aligning with U.S. initiatives to manage seized vessels efficiently and environmentally friendly.