Ship Recycling Display Mixed Display Last Week
THe recycled the market showing a variety of performance during the previous week. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer, said that “the Indian market has come out drastically this week, reflecting increased pressure and calm activity. Local steel sales are very bad, with almost non-existent requests, which further reduce market sentiments.
Source: Best Oasis
Around 17 yard is in accordance with HKC, while others are still pursuing NOC, although new approval from the ministry is impossible. In Pakistan, the local market remains depressed, with smuggling of goods from Iran is very considering the price and sentiment. Flowers buy very limited, with only a handful of buyers and breakers active in the market. The current offer is slipped further, with the buyer is now positioned closer to the level of USD 400 Such stability is not unusual for Türkiye, where the market often moves only when external triggers that clearly appear “.
The ship recycling sector showed a mixed performance last week, with calm activities in India and Bangladesh, while Pakistan witnessed several actions in the midst of persistent steel market weaknesses. In India, the view remains calm. The new US tariff is related to the import of Russian oil curbing export income and encouraging foreign investment outflows, while putting further pressure on the rupee. Weak steel market conditions, including price declines, burden the ship recycling sector, with the arrival of failing to lift sentiment in Alang. The government anticipates postponsoon’s recovery in steel demand, which should support ship recycling, while ongoing GST reform is expected to increase industrial activity and broader economic growth. In Pakistan, the market saw several activities last week, with several bulker completed, lifting sentiment while reducing the limited amount of the available Dasr certification. The steel sector remains under pressure, although post-water recovery is anticipated.
Source: Best Oasis
Although there is an effort to meet HKC standards, interest interest remains uncertain. What is encouraging, the lower tariff of Pakistan is compared to his neighbor who is a child who gives a competitive advantage in attracting ships. The Bangladesh ship recycling market remains less excited, detained by a slow steel sector, weak demand, and careful sentiment. In front of compliance, progress continues, with 18 HKC -certified Yards now operational and three more resolution. The limited number of certified yards has limited post-HKC activities, although the reception of ships is greater due to law enforcement partly offering this. A broader economic sentiment shows the lively optimism, because an increase in foreign reserves in September shows the potential for government support, even when business trust remains fragile. In Türkiye, the market witnessed several actions after weeks of stagnation, especially by facilities listed in the EU, actively processing the unit. The steel market improves, in the middle of a check -up demand for finished steel products.
Nikos Roussanoglou, Hellenic Shipping News worldwide
