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

Global Market Overview
Oil prices edged up 0.2% to close at USD 63 per barrel despite renewed Ukraine conflict risks. The Baltic Dry Index gained 2.7% with capes, panamaxes, and smaller ships all contributing. Vessel supply remains thin, and prices have cooled at lower post-HKC levels.

Bangladesh
Chattogram remains flat with no new arrivals or deliveries reported. Smaller LDT vessels face no demand, recycled steel is stockpiling, and the Taka weakened to 121.65. Economic uncertainty and weak fundamentals continue to discourage buyers.

India
Alang is the busiest and most stable destination, with nearly 140,000 LDT at anchorage including LNG and tanker units. Steel prices improved to USD 436 per ton and the Rupee firmed to 87.33. Despite ongoing sanctions and tariff risks, India remains the preferred HKC-compliant market.

Pakistan
Pakistan continues to offer the highest prices in the region at USD 622 per ton. Market activity is limited, with recyclers holding out for larger tonnage despite stable fundamentals. The Rupee strengthened to 283.15, but wider economic pressures remain.

Turkey
The Lira weakened further to 40.91 against the dollar, while new government restrictions on Israel-linked vessels reduce supply opportunities. Aliaga’s recycling yards saw no fresh arrivals.

The GMS Weekly remains the leading source for ship demolition pricing, steel plate market trends, HKC compliance developments, and port-by-port recycling updates across the Indian subcontinent.