Inside the Markets: Ship Recycling Update in India, Pakistan, and Bangladesh with Freight Market Impact and Compliance Focus

In this episode of Inside the Markets from GMS Podcasts, we provide a clear update on ship recycling activity across India, Pakistan, and Bangladesh. The discussion focuses on pricing, compliance requirements, freight market effects, and regional developments that are shaping today’s recycling decisions.

Hosted by Vagelis Chatzigiannis, Head of the GMS Greece Office, with insights from Jamie Dalzell, Head of the GMS Singapore Office, the episode covers the factors driving both opportunities and risks in the recycling market.

Discussion highlights include:

• India’s continued activity with more than 110 HKC-certified yards, supported by compliance and international credibility despite currency volatility

• Pakistan’s position as the regional price leader with strong plate values and currency stability, but limited concluded deals

• Bangladesh’s slowdown driven by flat plate prices, high inflation, and political uncertainty ahead of elections

• The role of the Baltic Dry Index and stronger freight earnings in delaying ship supply across bulkers and containerships

• The increasing importance of compliance, IHM documentation, and sanctions risk for international owners

• Market expectations for tankers, LNG carriers, and broader regional competition heading into Q4

Flash Forecast:

• Most likely ship type to recycle next month: tankers

• Preferred destination today: India for compliance, Pakistan for pricing

• Biggest current risk: currency volatility in South Asia

This episode provides straightforward insight into how shipowners and recyclers are balancing compliance, currency, and capacity challenges.

Follow GMS Podcasts for market intelligence and regional updates from our country heads in Asia, the Middle East, and Europe. Subscribe to the GMS Podcasts and follow GMS on LinkedIn for future updates and discussions.