According to Best Oasis, “the Bangladeshi ship recycling market continues to demonstrate strong buying interest, with buyers actively seeking suitable vessels for recycling. A recent bulk carrier sale reportedly concluded in the USD 540/LDT range on a delivered Bangladesh basis, reflecting firm buyer appetite and stronger price expectations. The recent transaction has contributed to an upward revision in prevailing market price indications, reflecting firmer pricing sentiment. Overall, market sentiment remains positive, supported by competitive buying interest despite the continued shortage of available tonnage. The Pakistani ship recycling market remained largely unchanged during the week, with buyers continuing to express interest in acquiring suitable vessels. Vessel availability remains extremely limited, restricting transaction activity despite continued buying interest. The domestic steel market remains under pressure due to weak demand, with no significant improvement in local market conditions reported during the week. Overall, market sentiment remains mixed, with sustained buying interest offset by subdued domestic demand and limited vessel availability. Finally, the Turkish ship recycling market remains stable, with limited trading activity and no significant changes reported during the week. The Turkish lira continues to remain weak, although currency fluctuations have not resulted in any further impact on recycling prices for the time being. Vessel availability remains influenced by EU regulations and the supply of suitable recycling candidates trading within or positioned near the region. Overall, Turkish recycling yards remain relatively busy and selective in their purchasing approach, with buying interest primarily focused on well-positioned and commercially attractive vessels that meet their specific requirements”, Best Oasis’ report concluded.

Meanwhile, in a separate note, shipbroker Intermodal said that “last week, ship recycling conditions were relatively stable, with mixed sentiment across the main destinations. Bangladesh stood out stronger, while India and Pakistan held steady, as recyclers kept a selective approach. Alang’s sentiment remained unchanged, as the festive season continued to weigh on trading activity. Local steel prices declined, as steel demand remained sluggish. The Indian rupee edged higher against the USD, supported by RBI’s liquidity tightening measures, ahead of interest rate hike expectations to combat inflation.

Few suitable LNG and tanker recycling candidates have been circulated to the market, as recyclers maintained their selective approach. Chattogram firmed, with competitive buying interest emerging, despite limited supply of vessels. Local steel prices rose slightly, as the market returned from holidays with little momentum. Local currency weakened against the USD. Limited candidates were circulated, as yards were busy with ongoing commitments. On the policy front, authorized recycling facilities increased to 39 and the national ship recycling industry has been upgraded from red to orange environmental category. Gadani was quiet. However, there was cautious interest in acquiring suitable tonnage, amid supply shortage. Local steel market stayed subdued, with steel prices declining. Local currency saw little changes, as it slightly gained against the USD. A few bulk carriers were circulated, but breakers showed limited appetite. On the economy side, the central bank raised interest rates by 50 basis points to 12%, as inflation rose to 11.32% y-o-y. Aliaga continued to see limited trading activity. Local steel prices are expected to increase as steel demand picks up, despite the two-day national holiday”, Intermodal concluded. Nikos Roussanoglou, Hellenic Shipping News Worldwide