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In its latest weekly report, Best Oasis highlights that ship recycling markets across South Asia and Türkiye remain largely steady yet subdued. India shows a slight softening in activity due to slower domestic steel sales, influenced by seasonal weather and upcoming festivities; Bangladesh and Pakistan remain quiet, with Bangladesh hampered by delays in Hong Kong Convention (HKC) compliance and Pakistan impacted by floods in Punjab. Turkey continues to see minimal movement despite signs of increased steel mill activity, which has yet to affect prices. Notably, China's semi-finished steel exports surged 320% year-on-year to 7.4 million tons between January and July 2025, potentially introducing stronger competition and lower raw material costs—though this shift has yet to impact recycling markets significantly.
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Shipbroker Intermodal corroborates the cautious tone, noting that markets “remain steady but selective, rather than broadly bullish.” Activity is especially muted in Bangladesh due to yard inoperability from HKC delays, while in Pakistan flooding and sluggish demand continue to dampen buyer interest. In Turkey, persistent weakness of the Lira is further clouding confidence, and in India—even though HKC-compliant yards are handling larger vessels—the overall sentiment remains reserved due to uncertain demand and seasonal slowdowns.

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Source Links (Bullet Format):

• Hellenic Shipping News – “Ship Recycling Steady But Subdued”
• Best Oasis Weekly Recycling Market Report via Hellenic Shipping News

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