Host Jamie Dalzell, Head of GMS Singapore Office, reconnects with Kiran Thorat, Head of GMS India Office, for a detailed update on India’s ship recycling market. In this continuation of their earlier discussion, Kiran explains how Alang’s recyclers are navigating slower arrivals, weaker prices, and tighter negotiations while maintaining full compliance and operational readiness.

Key Market Developments

Market Pulse:
India’s recycling market has experienced a correction of about USD 40–50 per LDT in recent weeks. Vessel arrivals remain steady with 16 ships recorded in October, totaling approximately 125,000 LDT. Despite slower momentum, sentiment has improved slightly after Diwali, supported by minor price gains and stable currency conditions.

Operational Focus:

• Fully staffed yards continuing maintenance and compliance checks under the Hong Kong Convention

• Non-operational yards retaining key personnel to ensure facility readiness

• Regular testing of cranes, drainage systems, and hazardous material handling areas

• Yards adopting a wait-and-watch approach while preparing for market recovery

Negotiation Trends:

• Shipowners still seeking higher prices despite weak demand

• End buyers remaining cautious due to steel price pressure around USD 390 per ton

• Compliance and risk-free transactions prioritized over aggressive bidding

India’s Competitive Edge:

• Over 110 Hong Kong Convention–compliant yards, the highest in the world

• Long-standing reputation for transparency, legal structure, and reliability

• Continued trust from shipowners for safe, traceable recycling practices

Market Outlook:
Kiran Thorat highlights early signs of stabilization, noting that prices have improved by around USD 5 per LDT since Diwali. With steady inflow and patient buyers, India appears to have reached the bottom of the cycle and is preparing for a gradual recovery through the remainder of 2025.

Industry Message:
Patience, compliance, and discipline remain the guiding principles of India’s recycling community. Alang’s commitment to responsible operations ensures that India remains the global benchmark for sustainable ship recycling.

From Bhavnagar to the beaches of Alang, India’s message for October 2025 is clear: remain compliant, stay prepared, and lead responsibly into the next market upturn.