India Leads Modest Gains as Ship Recycling Hubs Await Post-Monsoon Momentum: BEST OASIS
Dubai | 14th August
Ship recycling markets across South Asia and Türkiye showed mixed trends this week, with some signs of improvement but overall activity was still measured. Seasonal factors and regulatory developments remain key influences on sentiment. In India, demand is improving steadily, led by mid-sized vessels, which are driving most activity. Interest is gradually increasing as the monsoon season nears its end, supporting a stable market with an upward bias. Further strengthening is possible if current demand holds, while recent tariff moves remain a factor to monitor. In Bangladesh, buying interest has picked up, though mainly at lower price levels, limiting deal closures.
Heavy rainfall continues to slow momentum, with expectations for a clearer post monsoon recovery depending on shifts in buyer sentiment. In Pakistan, the market is steady but new ministry guidance on HKC certification is prompting a reassessment of strategies. The rule allowing only one vessel per yard for certification may influence activity more noticeably after the monsoon. In Türkiye, activity, pricing, and sentiment remain unchanged in a subdued state. Without new market drivers, this quiet phase is likely to continue in the near term.
The US has sharply increased import tariffs, in some cases up to 50%, affecting major trading partners such as Brazil, India, and Switzerland, which is likely to escalate trade tensions and fuel retaliatory actions.
Exchange Rates:
USD / INR USD / BDT USD / PKR USD / TRY
This Week : 87.69 Previous Week : 87.19 Lost : 0.50
This Week : 121.54 Previous Week : 122.28 Gained : 0.74
This Week : 283.56 Previous Week : 283.81 Gained : 0.25
This Week : 40.66 Previous Week : 40.64 Lost : 0.02
India
The market shows gradual improvement, supported by steady demand for mid-sized vessels.
The market is showing signs of gradual recovery, with demand improving steadily, particularly in the segment for mid-sized vessels. This category is currently driving most of the trading activity and providing a foundation for cautious optimism.
Local markets across the country are experiencing a slow but noticeable increase in interest as the monsoon season approaches its end. Seasonal factors are beginning to support market sentiment, and the overall tone remains stable with an upward bias.
The coming weeks should provide greater clarity on the market’s trajectory, with the potential for further strengthening if current demand levels hold and seasonal improvements continue, while recent tariff moves, though not yet impactful, remain an important factor to monitor.
Beaching Dates
08 August to 16 August
20 August to 27 August
05 September to 14 September
Bangladesh
Buyer interest emerges at lower price levels, but heavy rainfall keeps the market subdued.
The market is seeing some renewed buying interest, though largely at the lower end of the price spectrum. This has limited the scope for concluded deals, as sellers remain reluctant to match these lower offers.
Heavy rainfall has slowed overall momentum, and the prevailing expectation is that meaningful market activity will only materialise once the monsoon season ends.
The coming weeks will be crucial in determining whether post-monsoon conditions and potential adjustments in buyer sentiment can lift the market out of its current subdued phase.
Beaching Dates
09 August to 12 August
22 August to 25 August
07 September to 10 September
Pakistan
The market is soft as the new HKC certification limit prompts a shift in buyer expectations.
The market remains steady, though recent communication from the ministry on HKC certification is adding a key consideration. Many participants had expected that a yard could handle multiple ships while progressing toward HKC status; the latest guidance clarifies that only one ship may be recycled for a yard to obtain certification, and no moratorium period will apply once that vessel is completed.
This adjustment is prompting a review of purchasing strategies. While there has been no immediate shift in activity, the effect may become more apparent in the weeks ahead, particularly after the monsoon.
Beaching Dates Throughout the month
Türkiye
The market mirrors last week, continuing a prolonged, subdued trend.
The Turkish market has shown no change from last week, with activity, pricing, and sentiment holding steady in the same subdued state. This mirrors a pattern often seen in this market, where conditions can remain largely unchanged for extended periods.
Unless there is a shift in underlying drivers, this quiet phase is likely to persist in the near term, continuing the trend observed in recent weeks.
Beaching Dates
Throughout the month
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