In an industry where size is often measured in metres and tonnes, a dispute over the title of “world’s largest cash buyer” has ignited a battle between two of game’s most notable heavyweights.
US-based scrapping specialist GMS lashed out against Wirana of Singapore today in an attempt to set the record straight following a string of “misleading claims” from its competitor.
In a letter to clients, GMS wrote: “Based on the audit of number of ships delivered for recycling, there is absolutely no doubt that GMS is by far THE LARGEST CASH BUYER IN THE WORLD! We have done a quick check of market share of GMS and our named competitor in the two largest ship recycling markets in the world - India and Bangladesh
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| Anil Sharma: GMS chief |
“We have evaluated tonnage delivered into these markets from 2007 until May 2011. It came as no surprise to us that not only GMS is the SINGLE largest cash buyer, but has done this by a WIDE MARGIN - delivering THREE TIMES MORE TONNAGE than the competitor, who was touted as the largest!!
“We are confident that even if we stretch the audit to say last eight years and include all of the ship recycling markets in the world, the market LEADERSHIP of GMS remains indisputable.”
While Wirana could not immediately produce evidence of its size when contacted by TradeWinds, a source at the company claims it holds a title that cannot be disputed.
“We are the only cash buyer listed in the Guinness Book of World Records,” he said.
Accordidng to the company’s website, Wirana made the pages of the famed publication when it successfully concluded the purchase of two ULCCs, which weighed in at 148,691 tonnes.
“It was the biggest single purchase, by weight, of any year,” the source noted.
While it is tough to determine the winner in the fast paced world of scrapping, sources say Wirana may be looking for a rematch.
Source: TradeWinds.no. By Aaron Kelley in Stamford
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