⚓️ The ship recycling market was considerably weaker over the past week.

Описание: ⚓️ The ship recycling market was considerably weaker over the past week. In its latest weekly report, Best Oasis, a leading cash buyer of ships said that “in India, the local market has dropped substantially this week with no real buyers. The difference between steel plates and scrap prices has reduced significantly, showing very low demand. Without government approval for ship-recycled steel under ISI standards, plate demand will remain low and more material will end up sold as scrap. This is hurting the industry and undermining the green recycling movement, while Europe is promoting refurbished steel and India’s stance is becoming counterproductive”.

Best Oasis also noted that in Bangladesh, “local steel prices continue to fall, with limited demand for very small vessels. However, mid-sized vessels above 10,000 tons are still seeing some buying interest. The price gap between steel plates and HMS scrap remains wide, in contrast to India, giving Bangladesh an advantage to purchase vessels at comparatively higher prices. This situation is likely to continue unless Bangladesh introduces rules similar to India regarding the acceptance of ship-recycled steel. In Pakistan, buyers are no longer willing to offer higher levels, adjusting their positions in line with the weaker sentiment.

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