Ship Recycling: Consistent lack of movement: BEST OASIS
The week in ship recycling saw a consistent lack of movement across the board, with no major surprises or shifts. India stayed steady at its low levels from last week. Better weather and construction activity could provide a slight boost, but for now, the market slumbers on. Imports from freezing regions might slow down due to logistics, though this is more theory than reality. Bangladesh saw little action, with only one vessel sale scheduled for January. Political uncertainty around elections has paralyzed decision-making, leaving businesses in limbo. While a hot deal could nudge prices up slightly, the market remains as lethargic as ever. Pakistan continued its lackluster trend, with activity down drastically compared to last year. Anti-government protests shut down cities, with shipping containers doubling as roadblocks instead of recyclables. Stability feels like a distant dream here, and the market reflects that.
In Türkiye, the market slowed further, but prices held firm due to limited ship supply. At least here, stability has a slightly positive ring, even if it’s built on scarcity rather than strength. To wrap it up it was a uniformly dull week.
Protectionist trade policies are once again in focus, particularly with the possibility of their increased use by the U.S., raising concerns about their broader economic impact. Globally, such measures could decrease trade volumes, disrupt markets, and trigger retaliatory actions from other nations, potentially leading to escalating trade conflicts. Trade-dependent economies, particularly in Asia, could face notable challenges. A shift away from global cooperation might also undermine efforts to sustain economic stability. These outcomes remain potential scenarios—highlighting that in the dynamic world of trade and politics, unpredictability is the only constant.
India
The market remains unchanged amid improved weather and potential import disruptions.
The market remains unchanged, maintaining the same low levels as the previous week. With more favourable weather conditions, unlike the scorching heat and heavy monsoons, the current momentum in the construction sector, rolling mills, and furnaces might see a positive effect.
Imports from freezing regions in the Americas and Europe may decline due to logistical challenges caused by extreme cold, which could subtly impact market dynamics, though this remains speculative.
India’s economy grew by 5.4% in the second fiscal quarter ending September, lower than the predicted 6.5% and the central bank’s estimate of 7%. Growth may slow further in 2025, but a significant decline is not expected.
Beaching Dates
29 November to 07 December 2024
12 December to 20 December 2024
Bangladesh
Price for Recycling Ships in Bangladesh The market slows amidst political uncertainty, economic challenges, and a lack of clear direction.
The market has become sluggish, with no vessel activity and only one sale, scheduled for January delivery. Rates remain unchanged and are being maintained as per the last market levels. However, if a high-value or premium vessel comes to market, buyers might step in, pushing prices 10-20 USD higher than the recent lows.
Weak demand in the market combined with reduced investment and an industrial slowdown is significantly impacting the industry.
Political instability, with uncertainty around elections and an inactive interim government, is adding to the challenges. People are confused and unsure about the future, with no clear timeline for elections. This lack of clarity is making it difficult for businesses and individuals to plan or make decisions.
An elected government with clear reforms could help revive the market, restore confidence, and provide much-needed direction to the people.
Beaching Dates
30 November to 03 December
14 December to 17 December
Pakistan
Price for Recycling Ships in Pakistan Market struggles to continue amid year-end slowdown and political turmoil in Pakistan.
The market has shown no significant changes compared to the previous week. Sentiment within the industry remains notably weak.
As the year ends, activity in the sector is expected to stay low, finishing much slower than the same time last year. Performance is down by about 60% compared to last year, showing ongoing weakness in the market. This slowdown reflects broader challenges and weak demand, keeping expectations low.
Another anti-government protest unsettled Pakistan’s capital, leaving citizens eager for a return to stability. For four days, the city was heavily barricaded with over 700 shipping containers blocking major routes. Schools were shut, internet services suspended, and the streets were dominated by a strong police presence. Having faced so much already, is the nation prepared for yet another wave of turmoil?
Beaching Dates
Throughout the month
Türkiye
Price for Recycling Ships in Türkiye The market is slowing down, yet prices hold steady amid speculated supply constraints.
The market is slowing down, but prices remain stable, possibly due to the limited availability of ships, which could be keeping rates steady.
Turkey’s economy expanded by a modest 2.1% in the third quarter, falling short of expectations as demand, particularly in the services sector, weakened due to the impact of high interest rates. Seasonally and calendar-adjusted figures revealed a 0.2% contraction in GDP compared to the previous quarter, marking the second consecutive decline and signalling a technical recession.
Beaching Dates Throughout the month
