Ship Recycling: The Market remained relatively quite: BEST OASIS
The ship recycling market remained relatively quiet this week, with activity slowing down in several key destinations due to holidays. India showed slight improvement, supported by local demand and a more stable tone, further backed by recent GST clarity on domestic vessels. In Bangladesh, the market was mostly inactive during Eid, though prices edged higher in line with international trends. Most yards are currently occupied, and concerns have grown over newly imposed US tariffs, which could affect export sentiment going forward. Pakistan maintained steady demand within its usual vessel size range, but continued to face challenges in competing on price and securing financing due to tighter banking scrutiny. Meanwhile, Türkiye remained inactive throughout the week due to national holidays, with no changes reported. Overall, despite some movement in select areas, the global ship recycling market remained largely muted, awaiting a clearer direction once normal activity resumes.
As highlighted in recent weeks, the evolving global trade landscape continues to weigh on market sentiment, with the latest U.S. tariff policy introducing fresh uncertainty. While officials initially presented the sweeping duties as firm and non-negotiable, President Trump has since indicated a willingness to engage in talks if other countries offer “something phenomenal.” This conflicting messaging, paired with steep tariff hikes on key trading partners, has unsettled financial markets and raised concerns over broader trade flows. For the ship recycling industry, such macroeconomic shifts are increasingly important, as they influence steel demand, vessel supply, and overall market dynamics. With several destinations already in a quieter phase due to holidays, the added pressure from global policy developments could shape sentiment in the weeks ahead.
Exchange Rates:
USD / INR USD / BDT USD / PKR USD / TRY
This Week : 85.39 Previous Week : 85.45 Gained : 0.06
This Week : 121.32 Previous Week : 121.51 Gained : 0.19
This Week : 280.04 Previous Week : 280.12 Gained : 0.08
This Week : 38.01 Previous Week : 38.02 Gained : 0.01
Best Oasis Limited Weekly Ship Recycling Report 02
India
The market sees a gradual recovery as local demand and tax clarity boost sentiment.
The market has shown a slight improvement compared to the past two weeks, with some demand returning.
This recovery is largely attributed to a pickup in local demand, leading to a more stable and positive market tone.
Indian-flagged and Indian-owned vessels are no longer required to pay double GST, bringing added clarity to ongoing operations.
The recent US tariff hike has sparked concerns in India over its potential impact on key export sectors such as steel, textiles, and MSMEs. Analysts warn that these measures could widen the trade deficit, strain currency stability, and add pressure to India’s overall economic outlook.
Beaching Dates
01 April to 05 April
12 April to 17 April
Bangladesh
Price for Recycling Ships in Bangladesh Eid keeps the market quiet; the focus shifts to global trends and US trade actions.
The local market remained largely inactive due to Eid holidays, with limited movement last week. Prices have been raised in line with international market trends as a few international bulker deals were concluded at around USD 460/ldt. Activity is expected to resume once workers return over the next 10–15 days.
Recyclers are increasingly concerned after the US imposed a 37% tariff on Bangladeshi imports. The move has sparked fears of reduced export demand and potential economic ripple effects, including pressure on foreign exchange availability.
Beaching Dates
12 April to 15 April
26 April to 30 April
Pakistan
Price for Recycling Ships in Pakistan The market continues to show strong demand for mid-sized vessels amid pricing and regulatory challenges.
There is a steady demand for vessels ranging from 5,000 to 10,000 tons, consistent with previous market trends. Pakistan is unable to match the pricing that Bangladesh commands for similar vessels. Moreover, while the pricing between Pakistan and India is close, India’s prices are slightly lower.
We have increased the price because buyers and ship recyclers are unable to purchase at lower levels. A few recent sales have occurred at these revised prices. While recyclers are not pleased with the higher rates as its not feasible, they are still proceeding with purchases in order to secure vessels.
Heightened scrutiny by banks and financial regulatory authorities is also making it harder for buyers to secure letters of credit, complicating the completion of the vessel transactions.
Pakistan’s inflation eased to 0.7% year-on-year in March 2025, the lowest level in over 30 years, indicating a continued slowdown in price increases.
Beaching Dates
Throughout the month
Türkiye
Price for Recycling Ships in Türkiye Quiet week amid holidays, but economic eyes remain on tariffs and inflation.
This week marks a holiday period in Türkiye, resulting in minimal market activity. Operations are expected to resume next week. While inflation has eased for the ninth consecutive month, reaching 39.1%, economic concerns remain as Türkiye looks to negotiate the removal of newly imposed 10% U.S. 50 tariffs on its exports. These tariffs pose potential risks to trade flows and future economic stability.
Beaching Dates Throughout the month
List of Vessels Sold this Week
VESSEL NAME TYPE OF VESSEL IMO NO. YEAR OF BUILD
COUNTRY OF
BUILD LDT TERM OF
SALE LOCATION OF DELIVERY SALE PRICE/LDT (USD)
RICH ANNA GENERAL CARGO SHIP 9366847 2005 CHINA 1,011.00 DELIVERED CHITTAGONG, BANGLADESH 380 FUTONG EXPRESS WOOD CHIPS CARRIER 9111589 1995 JAPAN 8,858.00 DELIVERED CHITTAGONG,BANGLADESH UNDISCLOSED
