Ship Recycling Markets Steady Amid Tonnage Scarcity; Aliaga Edges Higher as Freight Keeps Vessels Trading : BEST OASIS
MUMBAI — World’s leading cash buyer for ships sending for recycling BEST OASIS in their weekly ship recycling report opined that, Global ship recycling markets demonstrated varied momentum over the past week, marked by enduring supply bottlenecks as resilient commercial freight rates continued to discourage shipowners from offloading aging tonnage. While India maintained firm underlying sentiment on local steel improvements, Bangladesh adopted a more guarded stance, and Türkiye logged modest price gains amid easing domestic inflation.
Regional Market Rundown
India: Firm Sentiment Held in Check by Currency Headwinds
The Indian market at Alang remains underpinned by positive buying interest. A mid-week rebound in domestic steel prices provided a floor for scrap values, though currency fluctuations against the US Dollar trimmed some of those margins. Recyclers face severe supply constraints, as robust global freight earnings keep potential demolition candidates in active trading.
Bangladesh: Cautious Bidding Prevails in Chattogram
Chattogram yards recorded softer buying interest this week. A retreat in local plate prices and weaker imported HMS scrap levels led cash buyers to adopt a wait-and-see posture. While market fundamentals remain subdued, local operators anticipate an uptick in procurement once domestic scrap demand strengthens.
Pakistan: Competitive Imports Complicate Price Discovery
At Gadani, enquiry levels from several recyclers remained stable, yet transaction prices showed negligible upward movement. Price discovery is hindered by broad bidding spreads among buyers, combined with persistent competition from cheap imported Chinese Hot-Rolled (HR) coil. Tonnage availability remains acutely restricted.
Türkiye: Aliaga Bids Firm Up as Capacity Tightens
The Turkish market at Aliaga showed fresh signs of life this week, with recycling prices edging upwards by 3.64%. Recyclers have found operational stability through easing domestic inflation and steady steel mill demand, keeping yards near full capacity. Even with increased candidate circulation, local offers strengthened.
Recycling Prices by Vessel Type
| Country | Sentiment | Container (USD/LDT) | Tanker (USD/LDT) | Bulker (USD/LDT) | W-o-W Change |
| Bangladesh | Moderate | $520 | $510 | $485 | 0.00% |
| Pakistan | Firm | $500 | $490 | $480 | 0.00% |
| India | Firm | $485 | $455 | $440 | 0.00% |
| Türkiye | Firm | $295 | $285 | $275 | +3.64% |
Ferrous Scrap & Commodity Benchmarks
Imported scrap benchmarks rose marginally across all key recycling destinations:
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HMS 1&2 (80:20) & Shredded Scrap:
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India: HMS at $395/ton; Shredded at $400/ton (+0.63%)
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Bangladesh: HMS at $400/ton; Shredded at $410/ton (+1.25%)
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Pakistan: HMS at $400/ton; Shredded at $410/ton (+1.25%)
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Türkiye: HMS at $400/ton; Shredded at $420/ton (+2.50%)
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Currencies vs. USD:
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USD / INR: 95.90 (depreciated 0.39)
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USD / BDT: 122.83 (appreciated 0.56)
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USD / PKR: 278.98 (depreciated 1.78)
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USD / TRY: 48.76 (depreciated 0.18)
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Energy: Brent crude retreated to $103.16/bbl (-$1.70), while WTI edged up to $101.05/bbl (+$1.27).
Recent Demolition Sales Reported
| Vessel Name | Type | LDT | Delivery Terms / Location | Price (USD/LDT) |
| Leo Star | Motor Tanker | 1,961 | Delivered Chittagong, Bangladesh | $485 |
| Su Rui 169 | LPG Carrier | 2,499 | ‘As-Is’ China | Undisclosed |
| Sun Gold | Bulk Carrier | 7,596 | Delivered Chittagong, Bangladesh | Undisclosed |
| Novaya Zemlya | Bulk Carrier | 8,109 | Delivered Alang, India | Undisclosed |
| Daytona – H | Bulk Carrier | 3,775 | Delivered Aliaga, Türkiye | Undisclosed |
| Spring | Bulk Carrier | 2,449 | Delivered Gadani, Pakistan | Undisclosed |
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