The ship recycling market is still calm
THe sent the recycling market to remain calm for the past week. In its latest weekly report, best oasis (www.best-oasis.com), a leading cash buyer of ships, Said that “Ship Recycling Markets Across South Asia and Türkiye Stew Largely Subdued, with Sentiment Cautious and Activity Restricted by a Mix of Seasonal and Structure Facors. In India, Limited Market Traction was observed Early in the Week, but Momentum Soon Faded As Buying Interest Softened. While Inquiries Have Been Currently, the lack of available ships has prevented important movements.
Source: Best Oasis
The best oasis added that “throughout the region, recycling remains careful, with soft demand and there are no direct signs from the shift in market dynamics. The broader global economic view remains diverse. While global growth is expected to continue at simple speeds, continuous interest rates in several regions consumed, and geopolitical risks that are weighed on this market confidence. committed in an uncertain economic environment “.
In this week’s separate report, the Shipbroker Intermodal commented that “Market conditions in India and Bangladesh are generally soft last week, while Pakistan witnessed simple upticks in activities. India continues to maintain a strong position in the global recycling market permitted by various regulations caused by HKC. From the new US rates, which can reduce the country’s competitiveness.
Source: Intermodal
This ripple effect is at risk of extending to the ship’s recycling industry and puts additional pressure on this sector. Meanwhile, the Pakistani recycling sector showed signs of rejuvenation this week. The activity was mostly driven by Yard that developed towards HKC compliance, with 5-6 yards near the final stage of readiness. This yard is expected to receive a temporary dasr certificate after a strict inspection, allowing them to import ships legally to be dismantled. As part of this certification process, recycling is actively looking for appropriate tonnage, even shows the willingness to pay competitive prices to secure ships that meet the necessary standards. While the overall market sentiment remains careful, Gadani seems to have experienced a simple resurrection, supported by an ongoing pages and increasing regulations. The Turkish Ship Recycling Market remains slow with limited activities. The boring local steel market prospect hinders the arrival of fresh recycled tonnage, exacerbated by the weakening Turkish lira against the US dollar which has an impact on public market sentiment, “the ship concluded.
Nikos Roussanoglou, Hellenic Shipping News worldwide
