Ship Recycling Retains Its Stable Prospects

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.

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