The Indian ship recycling market held steady, driven primarily by interest in niche and specialized tonnage such as reefers, passenger vessels, and sanctioned units. Recent transactions for passenger and reefer units fetched solid numbers, proving resilient despite a minor drop in domestic finished steel prices.
However, attracting standard dry and wet bulk tonnage remains a major hurdle. With Pakistan pricing around USD 30–40/LDT higher and Bangladesh commanding a substantial USD 80–90/LDT premium, Alang recyclers remain largely uncompetitive for conventional tonnage, directing their focus toward green recycling and complex vessels.
In Chattogram, market activity remained firm, though sentiment cooled slightly compared to the robust momentum recorded two weeks ago. Local plate prices softened marginally toward the end of the week, indicating that current offer levels could face slight downward pressure in the near term. Nevertheless, overall demand for mid-to-large-sized vessels remains robust, with local breakers continuing to hunt for suitable candidates.
Gaddani recyclers witnessed strong buying appetite, supported by an acute shortage of imported Iranian steel billets. As alternative raw material channels dried up, reliance on scrap derived from ship recycling surged significantly. Breakers in Pakistan are expected to remain aggressive in the coming week to secure prompt deliveries and replenish domestic steel inventories.
The Turkish demolition sector saw quiet, stable conditions at Aliaga. Buyer interest and overall market fundamentals remained unchanged week-on-week, keeping sentiment neutral. Aliaga saw several smaller multi-purpose vessels (MPPs) delivered locally, but broader activity remains at baseline levels awaiting positive scrap price catalysts.
HMS 1&2 (80:20): India ($385), Bangladesh ($385), Pakistan ($390), Türkiye ($377, +0.52%).
Shredded: India ($395), Bangladesh ($395), Pakistan ($395), Türkiye ($397, +0.52%).
Energy Markets: Brent Crude surged +$4.48 to settle at $/bbl, while WTI gained +$3.80 to reach $/bbl.
USD / INR: 95.51 (Depreciated 0.32)
USD / BDT: 122.69 (Appreciated 1.30)
USD / PKR: 277.62 (Appreciated 0.35)
USD / TRY: 47.87 (Depreciated 0.17)
A notable transaction this week was the sale of the tanker GREEN STARS (8,274 LDT), concluded at USD /LDT on an “as-is” Belawan, Indonesia basis.
