The world, awaiting inflation reports from India and the USA, is today reviewing the list of fundamental economic factors affecting global ship recycling. The Baltic Exchange Dry Index reported only a marginal increase of 13 points at Friday’s close, after the Capesize and Panamax indices reported increases of 13 and 34 points respectively. The small vessel index retreated to its lowest level since the end of August, but the overall index still reported an increase of around 2% this week. Furthermore, despite rising trade rates, oil closed at a low of USD /barrel, recording an 18% decrease compared to the same period last year.
This week, on the coasts of India and Bangladesh, a sudden increase in tonnage was seen in the anchorage areas.
According to GMS, weakening fundamentals with decreasing steel plate prices are causing weekly differences, as levels continue to fall uninterrupted in some regions, while in other regions, weekly recoveries create misleading hopes before losing their effect in the following weeks.
In GMS’s weekly report, it was stated, “At the far end, Turkey continues to delay without making any progress in volumes, apart from occasional special deals. As week 41 of 2025 / the 2nd week of October passes, after a moment of excitement and bewilderment, the market has regressed and is as unpredictable as ever.”
