In this week’s ship recycling market podcast, Ingrid and Henning discuss the latest developments across the global demolition market as February begins with renewed volatility in currencies, improving steel fundamentals, and continued shortages of recycling candidates.

This week saw a notable “gravitational drop” in the U.S. dollar across nearly all ship recycling destinations, providing renewed pricing support for buyers across the Indian sub-continent. At the same time, local steel plate prices surged across Bangladesh, India, and Pakistan, helping strengthen market sentiment after a sluggish and uncertain start to 2026.

The episode highlights how Pakistan continues to lead the sub-continent market, supported by firm steel levels, improving currency performance, and steady demand for dry bulk tonnage. Bangladesh returns to the spotlight as Chattogram activity improves, although the market remains cautious with national elections approaching mid-February. India shows signs of recovery as steel plate prices rebound and the Indian Rupee strengthens sharply against the U.S. dollar, improving buyer confidence. Turkey remains subdued, with limited new sales activity and the Turkish Lira continuing its gradual depreciation.

Grace and Ryan also cover key global indicators including a decline in the Baltic Dry Index, oil prices falling below sixty-two U.S. dollars per barrel before closing higher, and how improving domestic fundamentals may reshape recycling pricing direction as Q1 2026 progresses.

With tonnage supply still limited, buyers remain increasingly competitive for available candidates, particularly older handy bulk carriers and LNG units, while tanker and container recycling activity remains muted.

Designed for shipowners, cash buyers, recyclers, brokers, financiers, and maritime professionals monitoring global ship recycling markets, this weekly conversation provides practical insight into current demolition pricing, sentiment, compliance developments, and the key trends shaping the weeks ahead.

 

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