India stood out as the strongest ship recycling market in sentiment terms, while limited vessel availability continued to constrain activity across several destinations, according to broker reports carried by Hellenic Shipping News. Intermodal said Alang had strengthened, with higher local steel prices and a firmer currency helping the mood, although recent steel price fluctuations pointed to a period of adjustment.
Activity along the Indian waterfront was being maintained by ships bought in earlier weeks rather than a large flow of fresh candidates, Intermodal reported. The broker linked the currency’s appreciation against the dollar to recent interest rate and repo rate interventions by the Reserve Bank of India. It also said possible sanctions relief affecting certain tankers could bring additional recycling candidates to market and improve the outlook for buyers in coming weeks.
Bangladesh continued to show strong appetite for tonnage despite a small pool of available vessels. Local steel plate prices increased, and Intermodal reported that one bulker sale had been concluded during the week. The combination of firm buying interest and restricted availability contrasted with Pakistan, where buyers at Gadani remained hesitant to commit to further purchases and new candidates were also scarce.
Best Oasis described a cooling of Pakistani buying interest, partly because some buyers had recently taken delivery of vessels. It reported weaker offtake for ship plate and scrap, with scrap and wire rod prices down by about $25–30 per tonne in dollar terms. The company attributed much of that weakness to an influx of Iranian goods. Intermodal also identified Iranian steel imports as a source of pressure, although its assessment put local steel prices broadly steady, just below the previous week’s levels. Both reports mentioned a damaged tanker reportedly circulated for recycling after an incident in the Strait of Hormuz.
Turkey’s vessel recycling prices were broadly unchanged, according to Best Oasis, despite an approximately $9-per-tonne weekly decline in import prices. Intermodal likewise described Aliaga as stable, with slightly softer steel demand, a weaker lira and few available candidates. The broker reported no new sales there.