Ship Recycling Market Update - Week 51, 2025 | Bangladesh, India, Pakistan, Turkey | HKC Progress, Steel Price Moves, Freight Softer

In this Week 51 episode, Ingrid and Henning break down the latest ship recycling and demolition market signals across Bangladesh, India (Alang), Pakistan (Gadani), and Turkey (Aliaga).

This week delivers a sharp reminder of December volatility: freight markets continue to ease, the U.S. Dollar remains unstable, oil holds at relatively low levels, and local steel plate prices shift across the sub-continent. With the Hong Kong Convention (HKC) now in force, recyclers continue adapting to higher compliance expectations, while owners watch pricing and delivery timing closely heading into year-end.

Market overview highlights:

• Lower supply remains the defining theme, even as fixtures and arrivals begin to surface across sub-continent beaches.

• Bangladesh sees another price reset as steel plate prices drop quickly and yard capacity remains a key factor.

• India remains under pressure overall, but the Rupee firms and local plate prices rebound, adding short-term optimism.

• Pakistan strengthens its position with firmer domestic steel and ongoing HKC momentum, though delivery delays remain a concern.

• Turkey stays largely sidelined as restrictions and currency weakness keep Aliaga quiet.

Indicative recycling levels this week (USD per LDT):

• Bangladesh: Bulker 410 | Tanker 430 | Container 440

• Pakistan: Bulker 400 | Tanker 420 | Container 430

• India: Bulker 380 | Tanker 400 | Container 410

• Turkey: Bulker 270 | Tanker 280 | Container 290

Also in this episode: GMS is proud to share that our Founder and CEO, Dr. Anil Sharma, has been recognized in the Lloyd’s List Top 100 Most Influential People in Shipping for the 16th consecutive year. Under his leadership, GMS has completed more than 5,000 transactions and handles about one-third of global tonnage delivered for recycling each year.

If you want the full market context, pricing direction, and port position snapshots, follow GMS for weekly ship recycling intelligence.

Season’s greetings to you and your families, and thank you for listening.