India stood out as the firmer ship recycling market in a mixed regional picture, with limited vessel availability continuing to constrain purchases. Hellenic Shipping News Worldwide, citing separate assessments from Best Oasis and shipbroker Intermodal, reported stronger sentiment at Alang, sustained appetite in Bangladesh and more cautious buying in Pakistan. Turkey’s vessel prices were broadly stable despite softer conditions in the wider steel market.
Intermodal said higher local steel prices supported sentiment in India, although recent price movements suggested the market was going through an adjustment. The Indian currency strengthened against the dollar following Reserve Bank of India interest and repo rate interventions, according to the broker. Work at recycling yards was being maintained by ships acquired in earlier weeks, while fewer fresh candidates were being offered. Intermodal also identified possible sanctions relief for certain tankers as a development that could bring additional vessels to the recycling market.
In Pakistan, Best Oasis described a cooling of buying interest, partly because some purchasers had recently taken delivery of vessels. It reported a substantial weakening in demand and prices for ship plate and scrap, with scrap and wire rod prices down by about $25–30 per tonne in dollar terms. The company attributed the pressure principally to an influx of Iranian goods. Intermodal likewise described reluctant buyers at Gadani and pressure from Iranian steel imports, although its assessment put local steel prices only slightly below the previous week’s levels. Both reports referred to a tanker damaged in the Strait of Hormuz being offered for recycling.
Bangladesh continued to show strong demand for available vessels against a restricted pool of candidates, Intermodal said. Local steel plate prices increased, and the broker reported one concluded bulker sale. In Turkey, Best Oasis recorded an approximately $9-per-tonne weekly fall in import prices but little change in recycling vessel values. Intermodal reported slightly slower steel demand at Aliaga, further lira weakness against the dollar and no fresh vessel sales, with recycling candidates still scarce.