Bangladesh’s ship recycling market strengthened as buyers competed for a limited pool of vessels, while conditions elsewhere remained broadly steady, according to market reports carried by Hellenic Shipping News. Best Oasis cited a reported bulk carrier sale at around USD 540/LDT on a delivered Bangladesh basis, which helped lift market price indications. Intermodal also identified Bangladesh as the stronger destination, with recyclers across the main markets remaining selective.
Best Oasis said Bangladeshi buyers were actively looking for suitable ships despite the shortage of available tonnage. Intermodal reported firmer conditions in Chattogram, where local steel prices rose slightly following the holidays, although the recovery had little momentum and the currency weakened against the US dollar. Yards were occupied with existing commitments and few candidates were being offered. Intermodal also said the number of authorised recycling facilities had increased to 39, while the national industry’s environmental classification had changed from red to orange.
India’s Alang market was little changed, according to Intermodal, with festive-season disruption continuing to restrain trading. Steel prices fell amid weak demand, while the rupee strengthened slightly against the dollar, supported by Reserve Bank of India liquidity tightening ahead of expectations for an interest rate increase to tackle inflation. The broker said few suitable LNG vessels and tankers had been circulated for recycling, with buyers continuing to assess opportunities selectively.
Pakistan remained constrained by scarce vessel supply and subdued domestic steel demand. Best Oasis described continuing buyer interest but limited transactions. Intermodal reported quiet conditions at Gadani, where a few bulk carriers were offered but breakers showed little appetite. Steel prices declined and the local currency gained slightly against the dollar. The broker also noted that the central bank had raised interest rates by 50 basis points to 12%, with annual inflation at 11.32%.
Turkey likewise recorded limited trading. Best Oasis said lira weakness had not caused any additional change in recycling prices, while EU rules and the location of suitable ships continued to shape availability. Turkish yards remained relatively busy and focused on commercially attractive vessels meeting their requirements. Intermodal expected steel prices in Aliaga to rise as demand improved, despite a two-day national holiday.