Ship Recycling Slows to a Crawl Across South Asia and Türkiye Amid Cautious Sentiment: BEST OASIS
Ship recycling markets across South Asia and Türkiye remain largely subdued, with sentiment cautious and activity restricted by a mix of seasonal and structural factors. In India, limited market traction was observed early in the week, but momentum soon faded as buying interest softened. While inquiries have been present, the continued lack of available vessels has prevented any notable movement. The market remains watchful, with participants waiting for clearer signs of direction. In Bangladesh, the market holds steady at subdued levels, with minimal activity reported. The onset of the monsoon season has further dampened sentiment, and buyers continue to adopt a cautious approach. Conditions remain largely unchanged from the previous week. In Pakistan, selective demand continues, driven mainly by buyers seeking vessels to meet HKC certification needs. These buyers are prepared to secure tonnage at higher price levels, though this activity remains isolated and not reflective of broader market momentum. Overall, the market sentiment mirrors last week’s cautious stance. In Türkiye, the holiday period has kept market activity muted. Sentiment and pricing remain stable, with any significant movement likely to follow once regular trading resumes post-holidays. Across all regions, recyclers remain cautious, with soft demand and no immediate signs of a shift in market dynamics.
The broader global economic outlook remains mixed. While global growth is expected to continue at a modest pace, high interest rates, persistent inflation in some regions, and geopolitical risks are weighing on market confidence. These factors contribute to cautious sentiment in shipping and recycling markets, as buyers remain wary of committing in an uncertain economic environment.
Exchange Rates:
USD / INR USD / BDT USD / PKR USD / TRY
This Week : 86.19 Previous Week : 85.84 Lost : 0.35
This Week : 121.18 Previous Week : 121.73 Gained : 0.55
This Week : 284.84 Previous Week : 284.42 Lost : 0.42
This Week : 40.36 Previous Week : 40.17 Lost : 0.19
Best Oasis Limited Weekly Ship Recycling Report 02
India
The market continues to remain slow and steady, showing no clear signs of movement in either direction.
There has been some traction in the market this week; however, the momentum seems short-lived. As the market slowed down, buying interest also eased, and demand reduced significantly.
Although buyers have shown interest and there have been inquiries, the unavailability of vessels has been the main factor holding back activity.
We have to wait and watch how the market shapes up in the coming week. Whether this was just a temporary slowdown or the start of a firmer trend will become clearer in the days ahead.
Beaching Dates
21 July to 29 July
08 August to 16 August
20 August to 27 August
Bangladesh
Market sentiment remains subdued with no movement and slow buyer interest.
The ship recycling market in Bangladesh remains quiet, with conditions unchanged from the previous week. There is little to no movement in the market, and buyers are proceeding with extreme caution.
The onset of the monsoon season has further slowed market activity, keeping overall sentiment subdued.
The market remains in a holding pattern for now, with no signs of improvement, and any meaningful change will likely depend on shifts in market fundamentals or buying interest in the coming weeks.
Beaching Dates
24 July to 27 July
09 August to 12 August
22 August to 25 August
Pakistan
The market remains steady with selective demand and no significant change in sentiment.
Some demand continues in the market, primarily from yards that are operationally ready but still require vessels to complete their HKC certification process, prompting them to look for suitable tonnage.
These buyers are even willing to purchase at higher price levels to secure the vessels they need, reflecting a demand that is more certification-driven than based on general market conditions.
Overall, the situation remains much the same as the previous week, demand exists but remains limited to specific requirements rather than broader buying interest.
Beaching Dates Throughout the month
Türkiye
The Market activity remains slow amid holidays, with no significant change.
The market continues to remain quiet, mainly due to the holiday period, which has slowed down overall activity.
Locally, there has been no notable change, with sentiment and pricing remaining steady in line with recent trends.
For now, the market holds steady, and further direction is likely to emerge once regular activity resumes after the holidays.
Beaching Dates Throughout the month

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