Inside the Markets: Athens Edition (November 2025) | Greek Shipowners, Ship Recycling Prices and Currency Volatility

In this new episode of Inside the Markets from GMS Podcasts, host Jamie Dalzell is joined in Athens by Ilias Stasinos of GMS Greece to break down the latest trends in the ship recycling market as 2025 comes to a close. Together, they look at how global freight rates, weaker currencies in the subcontinent, and softer scrap steel prices are shaping ship recycling decisions for Greek owners and recyclers in India, Bangladesh, Pakistan, and Turkey.

Despite geopolitical risk, currency pressure, and uneven local steel markets, most Greek shipowners remain in trading mode, keeping even late twenties vessels in service while they wait for clearer price signals. Jamie and Ilias discuss why HKC compliant yards in India and Bangladesh still dominate decisions for listed and reputation sensitive owners, what is holding Pakistan back despite competitive indications, and how Turkey is maintaining its niche role for EU flagged tonnage.

This episode offers concise, real time intelligence for anyone following ship recycling, green recycling, dry bulk, and demolition markets, with a particular focus on the role of currencies, compliance, and sentiment in setting the next move.

Key Highlights

• Current ship recycling prices and buyer sentiment in India, Bangladesh, Pakistan and Turkey

• Why Greek owners are still trading instead of recycling, even with older Panamax bulkers

• How currency depreciation across the subcontinent is squeezing recyclers and shaping bids

• The importance of HKC certified and compliant ship recycling yards for listed and blue chip owners

• Pakistan’s recent steel price correction, sub USD 600 local levels and the wait for its first HKC approved yard

• Turkey’s role as a niche destination for EU flag tonnage amid a weakening lira and limited capacity

• Which vessel types are closest to the economic edge and most likely to be recycled if freight softens

• Why currencies are now driving market sentiment as much as scrap prices and freight rates

Stay tuned to GMS Podcasts for more episodes of Inside the Markets covering ship recycling trends, trading flows and maritime market intelligence from key recycling and shipping hubs worldwide. Subscribe to the GMS Podcasts and follow GMS on LinkedIn for future updates and discussions.