India emerged as a top destination for ship recycling in 2025. In more detail, the market share of Indian recycling units last year climbed to 35.4% compared to 30.1% in 2024, according to a recent UNCTAD report.
In terms of capacity, ships recycled in India amounted to 3 million GT, while in 2024 they were at 1.86 million GT, based on the same data, which confirm that the Asian country is moving at the pace of “Maritime India Vision 2030”.
According to the competent Minister Sarbananda Sonowal, this development reflects the success of sustainable policy interventions, industry efforts and alignment with international standards on safe and environmentally friendly ship recycling. It is noted that the Modi government provided financial support to 115 ship recycling units in order to be compliant with the Hong Kong Convention.
According to BIMCO, over 16,000 ships are to be recycled globally in the next decade. Considering a market share of 35.4%, Indian recycling units are able to recycle 500-600 ships annually.
