Why Ship Recycling Prices Differ by Market | Steel, Ships & Recycling Values Ep. 2

Why do ship recycling prices differ between Bangladesh, Pakistan, India, and Turkey when all markets are driven by steel?

In Episode 2 of Steel, Ships, and Recycling Values, Nayeem Noor, VP - Business Development and Communications at GMS, speaks with Jamie Dalzell, Head of the GMS Singapore Office, about why recycling destinations convert steel value into bids differently.

The discussion explains how Bangladesh, Pakistan, India, and Turkey each price vessels through their own mix of steel demand, currency, banking support, LC availability, yard appetite, compliance capacity, downstream liquidity, and timing risk.

This week’s market backdrop shows why regional price spreads matter. Bangladesh continues to show strong demand and workable LC support, but monsoon timing and physical beaching windows remain key constraints. Pakistan remains firm when steel and currency align, while India continues to offer depth, compliance capacity, and flexibility even when it is not the highest headline market. Turkey remains a distinct recycling destination for EU-linked, regulatory, or geography-driven cases.

For shipowners, brokers, financiers, traders, and maritime professionals, this episode offers a practical explanation of why the highest headline price is not always the best recycling deal. The right recycling destination depends on the vessel, buyer quality, finance, delivery terms, compliance requirements, and execution risk.

Stay tuned to GMS Podcasts for more episodes of Inside the Markets covering ship recycling trends, steel prices, vessel supply, freight markets, and maritime intelligence from key recycling and shipping hubs worldwide. Subscribe to GMS Podcasts and follow GMS on LinkedIn for future updates and discussions.

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.