This Week 35 edition of the GMS Weekly Podcast reviews the latest trends in global ship recycling, 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 held steady with WTI at USD 64 and Brent at USD 68.

• The Baltic Dry Index closed at 2,025, its strongest in a month. Panamaxes and Supramaxes supported gains while Capes slipped.

• Recycling supply slowed, with only a handful of new arrivals.

• Currencies mixed: India’s rupee fell to a record 88.3, Pakistan’s rupee stayed firm at 281.8, and Bangladesh’s taka was stable at 121.7.

• Steel plate prices: India USD 449 per ton (up), Pakistan USD 622 per ton (firm), Bangladesh USD 542 per ton (flat).

Bangladesh
Chattogram saw no new arrivals for the second straight week. Compliance challenges and weak demand continue to weigh on activity. Inflation above 8 percent and flat steel plate values have kept sentiment subdued.

India
Alang remained the busiest market, logging seven vessels, though only three were new arrivals. Steel prices improved to USD 449 per ton, but the rupee’s sharp fall to 88.3 against the dollar cut into confidence. India’s HKC-compliant yards remain an advantage, although recyclers are cautious under currency and cost pressure.

Pakistan
Gadani saw just one vessel but remains well positioned. Local steel plate prices stayed firm at USD 622 per ton and the rupee held at 281.8. DASR-backed yards are gaining momentum, with buyers ready for larger LDT units when they appear.

Turkey
Turkey’s recycling market weakened further as both the lira and local plate prices slipped. Levels are now between USD 250 and 270 per ton across vessel types. Market opportunities remain limited compared to sub-continent competitors.

Weekly Beach Breakdown

• Bangladesh: silent

• India: active but cautious

• Pakistan: steady with buyers waiting

• Turkey: weak with falling fundamentals

The GMS Weekly Podcast is your trusted source for ship recycling updates, covering demolition pricing, steel plate trends, compliance developments, and port-by-port activity across the Indian sub-continent.