Demand Rising in the Ship Recycling Markets

Best Oasis added that “the Pakistani ship recycling market remained largely unchanged this week, with subdued buying interest amid sluggish domestic market conditions. Continued pressure from Iranian imports, including unofficial cross-border trade, has further dampened breakers’ appetite for acquiring vessels. Vessel price indications remain broadly in line with the previous week, while market sentiment continues to range from moderate to subdued, with limited buying activity amid persistent pressure on domestic markets. Finally, the Turkish ship recycling market remains cautious, with limited vessel availability and weak purchasing activity. No new recycling sales were reported during the week, as yards continued to face pressure from weak domestic steel demand, high financing costs and currency depreciation. Buying prices remain relatively uncompetitive compared with India, Bangladesh and Pakistan, limiting Türkiye’s ability to attract conventional recycling tonnage. Nevertheless, Türkiye maintains a competitive position in recycling EU-linked vessels, supported by its proximity to Europe and established environmental compliance standards. Overall, market sentiment remains selective, with limited expectations of a significant recovery in recycling activity in the near term”, the company’s report concluded.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →