South Asian Ship Recycling Markets Stir as Steel Prices Lift Indian Sentiment: BEST OASIS
Ship recycling markets across South Asia and Türkiye remained quiet overall, though some regions are showing early signs of recovery. Sentiment is still cautious, but improving fundamentals are beginning to support a gradual return of interest. In India, the market has shown modest improvement this week, mainly supported by rising local steel prices. Buyer interest is gradually returning, though overall sentiment remains cautious as participants wait to see if the trend holds. In Bangladesh, only a few HKC-compliant yards are active, and they remain selective in their approach. With limited competition, activity is progressing slowly. In Pakistan, the market remains low and quiet, with no transactions reported. Weak demand and softening prices continue to hold buyers back. In Türkiye, the market is subdued due to the seasonal slowdown. Activity remains limited, and while demand is weak, prices have remained stable.
As global steelmakers move toward cleaner, low-emission production, demand for scrap is expected to rise steadily. Exporting countries may begin to retain more material for domestic use, which could tighten supply in international markets over time.
Exchange Rates:
USD / INR USD / BDT USD / PKR USD / TRY
This Week : 86.49 Previous Week : 86.19 Lost : 0.30
This Week : 122.14 Previous Week : 121.18 Lost : 0.96
This Week : 283.77 Previous Week : 284.84 Gained : 1.07
This Week : 40.52 Previous Week : 40.36 Lost : 0.16
Best Oasis Limited Weekly Ship Recycling Report 02
India
The market sentiment shows early signs of improvement, but the outlook remains cautiously optimistic
The local market has started showing signs of improvement this week, primarily driven by the significant recovery in iron ore prices over the past few weeks. HMS prices have also seen a slight upward trend, adding to the positive sentiment.
Buyer interest is gradually picking up. In the local market, increased steel prices are prompting buyers to reconsider vessel purchases, reflecting a growing sense of optimism despite the broader market slump.
While these are encouraging signs, it remains to be seen how much further the market will improve. The recent uplift offers hope, but sustained activity will depend on continued price stability and buyer confidence in the coming days.
Beaching Dates
21 July to 29 July
08 August to 16 August
20 August to 27 August
Bangladesh
Price for Recycling Ships in Bangladesh. The market shows early movement, but stronger momentum still awaits.
Buyers are slowly returning to the market after a prolonged period of inactivity.
However, only a few HKC-compliant yards are currently in a position to purchase vessels, and they are approaching the market with caution. Since only a few HKC-compliant yards are currently able to purchase vessels, and with little to no competition in the market, these yards are not showing much urgency or aggressive pricing. They are approaching deals cautiously, confident in their position as the only active buyers.
While interest has returned, activity remains measured, and a broader pickup will depend on how buyer sentiment evolves in the near term.
Beaching Dates
24 July to 27 July
09 August to 12 August
22 August to 25 August
Pakistan
Price for Recycling Ships in Pakistan. The market is weak with limited activity and cautious participation.
The market remains low and largely unchanged this week, with no reported transactions and limited activity. Prices continue to soften, and buyers are holding back amid weak sentiment and subdued demand.
Whether due to the absence of HKC-compliant yards or a cautious wait-and-watch stance from buyers anticipating further price corrections, the market continues to see limited interest and remains largely inactive for now.
On the economic front, Pakistan recorded USD 26.7 billion in external borrowings last year, marking a record high and deepening the country’s reliance on international creditors amidst ongoing fiscal challenges.
Beaching Dates Throughout the month
Türkiye
Price for Recycling Ships in Türkiye The market continues to exhibit subdued momentum, as slow summer activity persists across the region.
Both recycling capacity and buying interest remain limited, reflecting a broader seasonal slowdown. Despite muted demand, pricing levels have held steady, with no significant shifts observed in recent weeks.
On the economic front, Türkiye is now anticipating potential interest rate relief, which could improve investor sentiment and gradually support broader industrial and financial activity in the months ahead.
Beaching Dates Throughout the month
Bunker Prices at Port
Brent Crude WTI Crude
MGO – Previous Week MGO – This Week Decreased 817.87
This Week : 68.69 Previous Week : 70.05 Movement : – 1.36
This Week : 65.43 Previous Week : 68.13 Movement : – 2.7
List of Vessels Sold this Week
VESSEL NAME TYPE OF VESSEL IMO NO.YEAR OF BUILD COUNTRY OF BUILDLDT TERM OF SALE LOCATION OF DELIVERY SALE PRICE/LDT (USD)
PATTANI FSO, OIL 8615825 1988 SOUTH KOREA 16,240.00 DELIVERED ALIAGA, TURKIYE UNDISCLOSED SENAZ CHEMICAL TANKER 9034743 1993 NETHERLANDS 2,866.00 DELIVERED ALANG, INDIA UNDISCLOSED TWIN BULKER 9087740 1994 JAPAN 9,777.00 DELIVERED GADANI, PAKISTAN 445 MEIZAN MARU CEMENT CARRIER 9296676 2003 JAPAN 900.00 DELIVERED CHITTAGONG, BANGLADESH UNDISCLOSED GREEN EGERSUND REEFER 8804567 1990 NORWAY 2,990.00 DELIVERED ALANG, INDIA 440.

Author: shipping inbox
shipping and maritime related web portal