This edition of the GMS Weekly Podcast reviews current developments in the global ship recycling markets with updates from India, Pakistan, Bangladesh, and Turkey. The report covers oil prices, freight indicators, currencies, steel plate pricing, and the latest regional activity.

Global Market Overview

Oil prices slipped two percent to close at USD 62.80 per barrel following the Trump–Putin meeting in Alaska. The Baltic Dry Index continued to edge higher, rising 0.25 percent and standing more than seven percent higher since the start of the year. Supply of recycling tonnage remains limited, adding to market uncertainty.

Bangladesh

Bangladesh continues to face weak fundamentals. Five vessels totaling about 52,000 LDT arrived at Chattogram, including a 21,000-ton bulker. Local steel plate prices fell by USD 9 per ton to USD 540 as mills increasingly turn to cheaper imported raw material. The Taka remained steady at 121.35 with support from the central bank, but inflation is rising again and elections are still several months away. Smaller vessels remain difficult to place, with only larger ships finding some buyer interest.

India

India experienced several arrests involving sanctioned vessels at Alang, which has kept attention on compliance issues. Despite this, the market remains the most stable and reliable destination for ship recycling. More than 81,000 LDT is currently at anchorage, including another capesize bulker and a tanker. The Rupee firmed slightly to 87.53, inflation eased to 1.55 percent, and S&P upgraded India’s credit rating to BBB. These factors strengthen India’s position as the preferred HKC-compliant recycling hub.

Pakistan

Pakistan continues to attract attention as provisional DASR certificates support activity at Gadani. Four vessels totaling 16,000 LDT were delivered this week. Steel plate prices climbed to nearly USD 622 per ton, the highest in the region, while the Rupee eased to 283.55. Despite lacking full HKC approval, Pakistan remains competitive, particularly for dry bulk tonnage and mid-sized vessels.

Turkey

Turkey remains subdued. The Lira weakened to 40.90 against the US Dollar. Inflation has dropped significantly to 33.5 percent from more than 60 percent last year, but Aliaga yards have seen no fresh arrivals.

The GMS Weekly provides the most comprehensive review of global ship recycling activity, including demolition pricing, steel trends, HKC compliance, and port-by-port updates across the Indian sub-continent. It is widely referenced by ship owners, recyclers, traders, and maritime analysts.