Although some momentum was generated in sub-continent markets over the preceding weeks as the 90-day pause on tariffs was announced, ship recycling markets have remained cautiously stalled, reports cash buyer GMS.
“This comes as the ambiguity around U.S. – China tariffs has maintained volatility on recycling nation steel plate prices and currencies, subsequently keeping vessel offerings and sentiments at the bidding tables, firmly in check.”
The ongoing restriction on issuing any No Objection Certificates (NOCs) in Bangladesh has also dragged on for another week, leaving Chattogram with no fresh arrivals even though some vessels did manage to find a way to delivery.
Pakistan has disappeared into ‘Empty Port Position’ territory all while India’s recently firming prices have helped it have the busiest anchorage of the week with nearly 40K LDT idling at Alang.
Lastly, Turkey at the West End looks like its bottom fell entirely out this week as levels across the board (offers and fundamentals) fell sharply.
“Overall, as the supply of tonnage has yet to fully pick up as we head into the summer months and with Easter Holidays across Europe now over, charter fixtures remain solid and will likely continue to deprive recycling markets of some much-needed tonnage for yet another week.”
GMS demo rankings / pricing for week 17 of 2025 are:
