Ship recycling activities take steps
THe sent the recycling market to have increased, especially in some markets, such as India, but still still less enthusiastic as a whole. In its latest weekly report, the best Oasis (www.best-oasis.com), a leading cash buyer said that “Ship-recycling markets throughout South Asia and Türkiye show a stable trend this week, with India continuing to lead regional activities. Buyers in India remain positive, supported by stronger and stronger appetite activities.
Source: Best Oasis
In Türkiye, the sentiment remains calm in the midst of the holiday conditions, although the pickup gradual in the interest of buyers arises with more tonnage reportedly being repaired. In the global field, the supply of memo continues to remain tight, which causes deficiencies in all main recycling goals. With limited availability, prices are expected to face upward pressure in the coming weeks, supporting stronger sentiments in all regions. Global raw steel production slipped 1.3% year-to-year in July, with a total of 150.1 million tons, according to the World Steel Association. This decline was mainly led by a 4% decline in China output, reflecting softer demand and careful production strategies in the largest steel market in the world. This slowdown highlights the sustainable challenges for the global steel industry in the midst of weaker construction activities and the demand for industrial muted, the best Oasis concludes.
In a separate report, the Shipbroker Intermodal said this week that “The Global Ship Recycling Market in general continues to be subdued over the past week, with the stability of the main canopy prices that cover the underlying among the participants. Activities are muted in most regions, reflecting seasonal slowdown and broader cleaning, and broader uncertainty, for players who have no connection.
Source: Intermodal Shipbroker
Domestic buyers show a little taste for tonnage, with limited attention, especially on greater ships at lower levels. Political uncertainty remains a dominant obstacle, with temporary administration until the national election in 2026. Until the clearer political framework emerged, recycling is expected to remain careful. The Pakistani market has not changed most of it after a shorter work week. The price is widely stable, but uncertainty remains due to the constant smuggling problem to damage local stability. The prospect of a state sovereign credit has increased slightly thanks to external financial support, even though the condition remains fragile. Türkiye also did not show a shift, with a weak sentiment and the minimum activities that apply. Depreciation of currencies and weaknesses of the stock market continues to burden local trust, and there is no catalyst for visible recovery, “the ship concluded.
Nikos Roussanoglou, Hellenic Shipping News worldwide
