GMS Weekly Podcast | Week 34 Recap: Bangladesh Stalls, India Busy, Pakistan Prices Hold, Turkey Adds Restrictions

In this Week 34 edition of the GMS Weekly Podcast, we cover the latest developments in the global ship recycling markets, with updates from India, Pakistan, Bangladesh, and Turkey. This week’s theme, Method to the Madness, highlights frustrating conditions, softer pricing, and uneven buyer activity across the sub-continent.

Global Overview:

• Oil edged up 0.2% to USD 63 per barrel as Ukraine conflict pressures continued.

• The Baltic Dry Index rose 2.7%, with gains across capes, panamaxes, and smaller segments.

• Supply of recycling candidates remains limited despite recent LNG and tanker arrivals.

• Prices have cooled and are holding at lower post-HKC levels.

Bangladesh:

• Market flat with no new arrivals or deliveries reported.

• Demand for smaller LDT units is absent, while only select large capes draw interest.

• Recycled steel continues to stockpile as mills import cheaper raw material.

• The Taka weakened to 121.65 against the dollar.

• Economic and political uncertainty persists, keeping buyers away.

India:

• Alang remains the busiest and most reliable recycling destination despite sanctions and tariff pressure.

• About 140,000 LDT currently at anchorage or delivered, including another LNG and tanker.

• Steel prices improved slightly to USD 436 per ton; the Rupee firmed to 87.33.

• Concerns remain about Chinese steel imports undercutting domestic values.

Pakistan:

• Still offering the highest prices in the region at USD 622 per ton.

• Market activity is muted with limited arrivals and few workable candidates.

• Yards with DASRs are holding back for larger vessels.

• The Rupee strengthened to 283.15, but inflation and investor outflows add risk.

• Pakistan remains the best-priced location for quick deals if supply improves.

Turkey:

• The Lira slipped again to 40.91, briefly above 41.

• Government imposed a ban on direct vessel calls to and from Israel, cutting supply potential.

• Inflation is easing, but Aliaga’s yards remain without new arrivals.

The GMS Weekly is the trusted source for ship demolition pricing, steel plate trends, HKC compliance, and port-by-port market activity across the Indian subcontinent.

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