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International Cooperation Department
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International Shipping |
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| Ship recyclers face market turmoil, monsoon chaos |
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Date:2025-08-20 Readers:
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Ship recycling markets across the Indian sub-continent are grappling with erratic fundamentals, new tariffs, and weather disruptions, as uncertainty deepens over pricing and regulation, reports New York's Marine Link.
Cash buyer GMS said the week's developments echoed the confusion of April's "Liberation Day" tariffs. Fresh levies on destinations including India, China and Russia triggered volatility, with oil futures dropping 5 per cent to close at US$63.90/barrel.
Despite the oil slump, the Baltic Exchange's dry index rose for a third consecutive Friday, up over 2 per cent. The cape index led with a 4.3 per cent gain, while supras added 0.2 per cent, offering some optimism for owners of ageing vessels.
Currency movements added to the confusion, with the US Dollar strengthening against India, Pakistan and Turkey, but weakening against Bangladesh and China. Steel plate prices at recycling hubs fluctuated but ended the week largely unchanged.
Monsoon rains continued to batter key locations, especially Bangladesh, compounding the challenges for recyclers. The Hong Kong Convention's new documentation and formalities have become a dominant force in the region's recycling landscape.
A shortage of viable recycling candidates has left the industry in near-stasis. Although each location reported at least one new arrival, prices have dropped by at least $60/LDT from earlier highs, amid tariff tensions and sanction threats.
India saw unexpected activity despite sanctions drama, including the reported arrest of a vessel at Alang. Large LDT LNG and bulk carriers have arrived in recent weeks, making it a busier period than anticipated across the sub-continent.
https://www.shippingazette.com/news?news_id=9250800001040
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