Ship Recycling Slows to a Crawl: South Asia and Türkiye Markets Stagnate Amid Cautious Buying: BEST OASIS
Ship recycling markets across South Asia and Türkiye remained quiet overall this week, with limited activity and sentiment still soft. Local pricing in most destinations held at last week’s levels, but the broader picture continues to show a lack of momentum, with buyers across the region maintaining a cautious approach. In India, the market stayed steady with no downward pressure on local prices. However, buyers have slowed their activity, and the overall mood has turned more watchful. The strong dollar and its impact on costs remain a concern, overshadowing otherwise firm pricing levels. Bangladesh showed no improvement either, with buyers staying on the sidelines and unwilling to move higher on price. Their reluctance to adjust expectations has left the market flat and momentum lacking, even as conditions remain unchanged week on week. Pakistan continued in the same weak tone as before. Prices are at last week’s levels, but sentiment is soft and there has been little sign of any buyer participation. The overall market there remains stagnant, with no indication of a shift in direction. Türkiye mirrored this subdued regional trend. Activity stayed slow, with no visible movement in the market. Prices held at last week’s levels, though pressure for a possible decline is gradually building given the weak demand environment. Taken together, the region continues to face a muted period, with buyers holding back and little urgency to move. Pricing has held steady for now, but without stronger demand or a shift in sentiment, the outlook remains soft across all key markets.
On the global front, renewed US tariffs have reignited trade tensions, adding further uncertainty to market sentiment worldwide. Exchange Rates:
USD / INR USD / BDT USD / PKR USD / TRY
This Week : 87.19 Previous Week : 86.49 Lost : 0.70
This Week : 122.28 Previous Week : 122.14 Lost : 0.14
This Week : 283.81 Previous Week : 283.77 Lost : 0.04
This Week : 40.64 Previous Week : 40.52 Lost : 0.12
India
The market remains steady, but currency pressures constrain buyer activity.
The local market stayed unchanged compared to last week, with no downward pressure.
Prices held steady, which is a positive sign for now. The recent surge in the US dollar against the rupee, triggered by new tariff announcements from the US, has increased import costs and squeezed margins. This has made buyers more cautious despite stable local market conditions. As a result, buyer activity has slowed, reflecting concerns over profitability rather than weakness in domestic demand.
Going forward, stability in the exchange rate will be key. Unless currency pressure eases, margins will remain tight and buying momentum will likely stay muted.
Beaching Dates :
08 August to 16 August
20 August to 27 August
05 September to 14 September
Bangladesh
Market activity stays muted, with buyers waiting and resisting higher price levels. The Bangladesh market has seen no activity this week, as buyers continue to remain on the sidelines. Rather than committing, they are carefully watching for the right opportunities before stepping back in.
Buyers have not raised their price levels and prefer to stay positioned at the lower end of the market. This cautious approach reflects their reluctance to commit at higher numbers, even as the market stays steady.
With this stance, overall momentum has stalled. Unless there is a shift in buyer sentiment or a change in market dynamics, activity is likely to remain muted in the coming weeks.
Beaching Dates :
09 August to 12 August
22 August to 25 August
07 September to 10 September
Pakistan
The market remains weak and unchanged, with buyers holding back.
The Bangladesh market has seen no activity this week, as buyers continue to remain on the sidelines. Rather than committing, they are carefully watching for the right opportunities before stepping back in.
Buyers have not raised their price levels and prefer to stay positioned at the lower end of the market. This cautious approach reflects their reluctance to commit at higher numbers, even as the market stays steady.
With this stance, overall momentum has stalled. Unless there is a shift in buyer sentiment or a change in market dynamics, activity is likely to remain muted in the coming weeks.
Beaching Dates Throughout the month
Türkiye
The market remains very slow, with prices flat but pressure building.
Activity has been extremely quiet this week, with no visible movement in the market. Buyer interest is absent, and conditions remain subdued. Prices remain the same as last week, with no changes observed so far. However, the lack of demand is creating pressure, and a decline may follow if sentiment does not improve. For now, global pricing trends are preventing a correction at local levels, but this support may prove temporary if weakness in the domestic market persists.
Beaching Dates Throughout the month
Author: shipping inbox
shipping and maritime related web portal
