Ship Recycling: The market Remained Largely Unchanged this Week with activity levels steady: BEST OASIS
The ship recycling market remained largely unchanged this week, with activity levels steady across key destinations and no major shifts in sentiment. In India, the market held firm, though local buyers stayed cautious as rising domestic steel prices faced growing pressure from more competitively priced Chinese alternatives. In Bangladesh, the tone remained soft, with limited local activity and prices stable at previously concluded levels, while developments continued on the regulatory front with the Ship Reprocessing Board beginning its operations. Market participants now await clarity regarding upcoming approvals for compliant yards, as uncertainty lingers for non-compliant facilities. Pakistan also saw no notable movement, with recyclers maintaining a wait-and-see approach amid subdued global cues and ongoing competition from Chinese imports. Meanwhile, Türkiye experienced a slight downward trend in pricing sentiment, with recyclers holding off on adjustments for now, though a softer market tone could prompt changes ahead. Overall, the global ship recycling market continued to operate at a muted pace, with participants largely observing conditions as they await clearer direction in the weeks ahead.
The trade tensions between the U.S. and China have escalated sharply, with the U.S. now imposing combined tariffs of up to 145% on certain Chinese imports. This includes a 125% “reciprocal” tariff, along with an additional 20% levy tied to broader policy concerns, including China’s role in the fentanyl trade. In response, China has raised its tariffs on U.S. goods to 125%, signalling its firm stance in the ongoing dispute. These aggressive trade measures have sparked renewed fears of global economic disruption, as markets react to the uncertainty and supply chains brace for potential delays and cost increases. Experts warn that continued escalation without coordinated international dialogue could weaken global trade, slow down growth, and hit developing economies the hardest. As both sides dig in, the need for constructive engagement and a return to cooperative frameworks becomes
increasingly urgent.
Exchange Rates:
USD / INR USD / BDT USD / PKR USD / TRY
This Week : 85.39 Previous Week : 85.45 Gained : 0.06
This Week : 121.32 Previous Week : 121.51 Gained : 0.19
This Week : 280.04 Previous Week : 280.12 Gained : 0.08
This Week : 38.01 Previous Week : 38.02 Gained : 0.01
Best Oasis Limited Weekly Ship Recycling Report 02
India
The market remains unchanged, mirroring last week’s sentiment.
The market remained unchanged this week, showing no shift in sentiment or activity compared to the previous week. Overall, the tone and momentum remain steady. While domestic steel prices have increased from ₹48,500–₹49,000 (Indian Rupee) per tonne in early March to around ₹52,000 per tonne by April, Chinese steel has declined to nearly ₹46,000 per tonne, mainly due to oversupply and weaker demand. In addition,
Chinese steel mills have been offering further price reductions directly at the mill level (FOB discounts), making their exports more competitive. As a result, Indian traders have been slow to purchase locally produced steel.
Meanwhile, the Reserve Bank of India cut the benchmark interest rate by 25 basis points to 6% to support the slowing economy, following the recent implementation of Trump’s 26% tariffs.
Beaching Dates
12 April to 17 April
26 April to 30 April
Bangladesh
Price for Recycling Ships in Bangladesh The market remains soft; BSRB begins operations; NOC clarity expected next week.
The local market remained soft and backward. Prices have been maintained at last week’s levels, as a few international transactions were concluded at those benchmarks, though local activity continues to be limited.
As per the official notification issued on 10 April 2025, the Bangladesh Ship Reprocessing.
The board, comprising three members, has officially started operations under the Ship Reprocessing Act, 2018. The board will now be responsible for overseeing matters related to ship recycling in Bangladesh.
Next week, it will be known whether the NOC will be issued to HKC-compliant yards. For non-HKC yards, the last extension ended on 31st March, and no new extension has been announced. There is no indication of any extension before July.
Beaching Dates
12 April to 15 April
26 April to 30 April
Pakistan
Price for Recycling Ships in Pakistan Market remains under pressure amid global uncertainty, weak steel trends, and financial concerns.
The market remains unchanged, and as a result, prices have been maintained at last week’s levels. Sentiment continues to be cautious amid ongoing global developments. Prices of shredded scrap and HRC from China have declined, creating uncertainty in the steel market. A similar situation is emerging in India, where low-cost Chinese steel imports are beginning to affect domestic pricing and market sentiment.
Additionally, the UK, UAE, and US have collectively withdrawn nearly USD 1 billion from Pakistan’s treasury bills, raising concerns over external financial pressure and investor confidence.
Beaching Dates
Throughout the month
Türkiye
Local and import prices decline; recyclers are likely to follow amid changing market conditions. In the market update, prices dropped locally by USD 6. Import offers fell by USD 10, indicating pressure in the market.
Recyclers have not revised their prices yet, but a downward adjustment is anticipated next week if current conditions persist.
Following new U.S. tariffs under the Trump administration, Türkiye is looking to strengthen its export position by expanding trade with markets in Africa, Latin America, and Asia, aiming to fill gaps left by disrupted global trade routes.
Beaching Dates Throughout the month
List of Vessels Sold this Week
VESSEL NAME TYPE OF VESSEL IMO NO. YEAR OF BUILD COUNTRY OF
BUILD LDT TERM OF SALE LOCATION OF DELIVERYSALE PRICE/LDT (USD)
DSM STAR BULKER 9524205 2008 CHINA 8,110.00 DELIVERED GADANI, PAKISTAN UNDISCLOSED ADVENTURE GENERAL CARGO SHIP 9119103 1995 JAPAN 2,073.00 DELIVERED ALANG, INDIA UNDISCLOSED ZEKAI ONEL GENERAL CARGO SHIP 8132603 1980 TURKIYE 1,580.00 DELIVERED ALIAGA, TURKIYE UNDISCLOSED GMA NADIA GENERAL CARGO SHIP 8631491 1988 JAPAN 1,208.00 DELIVERED ALIAGA, TURKIYE 278
ATHENA PLATFORM SUPPLY SHIP 7404217 1975 NETHERLANDS 1,178.00 DELIVERED ALANG, INDIA UNDISCLOSED GLUON CONTAINER 9124677 1995 JAPAN 3,192.00 DELIVERED ALANG, INDIA UNDISCLOSED FIRSTEC WOODCHIPS CARRIER 9151242 1997 JAPAN 7,952.00 AS-IS HONG KONG 425
