Dubai's GMS Seeks License to Recycle Seized Venezuelan Oil Ships

Dubai's GMS has applied for a U.S. license to buy and scrap vessels linked to Venezuelan oil trading, currently held by the U.S. This move addresses the risk of oil spills from aging ships in the shadow fleet. GMS hopes the U.S. government expedites the license process to ensure maritime safety.

Dubai-based Global Maritime Services (GMS) is pursuing a U.S. license to purchase and dismantle ships seized by American authorities in connection with Venezuelan oil trading. This initiative is part of a larger strategy aimed at alleviating the risk of oil spills from aging 'shadow fleet' vessels while complying with international sanctions.

In recent weeks, the U.S. military, alongside the Coast Guard, has intercepted seven vessels implicated in Venezuelan oil transportation. These actions are part of Washington's broader campaign to depose Venezuelan President Nicolas Maduro, culminating in his detention on January 3.

GMS CEO Anil Sharma emphasized the urgency of acquiring the necessary licenses due to the hazardous conditions posed by these outdated ships. The company is currently in dialogue with the U.S. State Department, advocating for expedited processing to facilitate responsible maritime solutions.

(With inputs from agencies.)