Ship Recycling: Prices declined in India: BEST OASIS
With markets across key recycling destinations closed during the holiday period, last week’s report was not issued on Friday. As operations now begin to resume, early market signals are beginning to emerge.
The global ship recycling market experienced a broadly weaker trend this week, influenced by holidays, price corrections, and continued regulatory uncertainty. In India, prices declined further under local pressure, and sentiment remains subdued. Bangladesh remained inactive due to Eid holidays, with the market expected to reopen mid-June. Pakistan also saw minimal activity, with a few buyers active ahead of the Hong Kong Convention deadline; however, overall momentum remained limited. Yard compliance efforts continue, though clarity remains lacking. In Türkiye, both import and domestic prices fell amid weak demand and post-holiday slowdown. As the 26 June HKC enforcement date nears, attention across all markets is shifting toward compliance readiness and post-holiday direction.
Global trade tensions are heating up again as sweeping U.S. tariffs introduced under President Trump begin to take effect, rattling confidence in supply chains and triggering concerns about growth. The move has already led to a downgrade in global economic forecasts, with the OECD warning of broad consequences if the situation escalates. Against this backdrop, senior officials from the U.S. and China are meeting in London this week for a new round of trade talks. While expectations are cautious, the stakes are high. From critical mineral exports to tariff rollbacks, the outcomes of these discussions could either open a path toward de-escalation or push markets further into uncertainty. What unfolds in London may well set the tone for global trade in the months ahead.
Exchange Rates:
USD / INR USD / BDT USD / PKR USD / TRY
This Week : 85.67 Previous Week : 85.54 lost : 0.13
This Week : 122.33 Previous Week : 122.11 Lost : 0.22
This Week : 282.15 Previous Week : 281.98 Lost : 0.17
This Week : 39.23 Previous Week : 39.22 Lost : 0.01
Best Oasis Limited Weekly Ship Recycling Report 02
India
Market drifts lower with no light at the end of the tunnel and sentiment fading.
The market has come off notably in the past week, with increased local issues adding pressure. Sentiment remains weak, and there appears to be little hope for a near-term recovery.
The only potential hope lies in a change in policy that would allow ship-recycled steel to be used in the production of TMT bars. As previously reported, the Steel Ministry had rejected this proposal, which has severely limited domestic demand and weighed on overall sentiment.
The Indian Ship Recyclers Association is currently working on the issue. If their efforts lead to any progress, it could help revive the market. Until then, the outlook remains weak.
Beaching Dates
09 June to 17 June
22 June to 30 June
22 June to 30 June
Bangladesh
The price for Recycling Ships in the Bangladesh Market remains quiet during Eid as attention turns to HKC and post-holiday trends.
The market has remained inactive this week, with operations largely on hold due to the Eid al-Adha holidays. The break, which began on 5th June, will continue until 15th June, effectively bringing the market to a standstill.
As the holiday period comes to an end, attention will turn to how the market reopens. In the coming days, we will begin to see whether any momentum returns and how pricing and sentiment develop heading into the second half of the month.
Additionally, with the Hong Kong Convention set to come into force on 26 June, the weeks ahead could prove significant. How Bangladesh aligns with compliance expectations and regulatory processes may influence both market confidence and volume going forward.
Beaching Dates
11 June to 14 June
24 June to 27 June
11 July to 14 July
Pakistan
Price for Recycling Ships in Pakistan. The market remains slow with few deals as the HKC deadline approaches.
The market remained slow this week, with only a few buyers active. As noted in our earlier updates, some purchases were concluded in recent weeks, mainly driven by the upcoming Hong Kong Convention deadline rather than any shift in sentiment. Activity was further subdued by the ongoing Eid holidays, keeping the overall momentum low.
Around 8 to 10 yards are believed to have submitted plans for HKC compliance.
However, according to local sources, only one or two may be in a position to meet the required standards.
With no official confirmation on yard approvals, the broader market remains on pause. Activity is expected to stay limited until more clarity emerges closer to the 26 June implementation.
Beaching Dates Throughout the month
Türkiye
The market softens further amid weak sentiment and holiday slowdown. Activity remained limited last week, largely due to the holiday period. Import prices softened by about USD 3, while the local market saw a sharper decline of around USD 5.
Sentiment remains weak, with no signs of recovery in buying interest. The continued pressure on both import and domestic pricing has raised concerns about further downward adjustments in the weeks ahead, especially if demand fails to pick up. Türkiye’s economy grew 2.0% year-on-year in Q1 2025, down from 3.0% in the previous quarter. Seasonally and calendar-adjusted growth was 1.0% quarter-on-quarter. The slowdown reflects tighter monetary conditions, with full-year growth expected to ease slightly from 2024’s 3.2%.
Beaching Dates
Throughout the month
List of Vessels Sold this Week
VESSEL NAME TYPE OF VESSEL IMO NO.YEAR OF BUILD COUNTRY OF BUILDLDTTERM OF SALELOCATION OF DELIVERYSALE PRICE/LDT (USD)
HL RAS LAFFAN LNG TANKER 9176008 2000 SOUTH KOREA 28,566.00 AS-IS JISEPO, KOREA (GREEN RECYCLING) UNDISCLOSED HL SUR LNG TANKER 9176010 2000 SOUTH KOREA 28,527.00 AS-IS JISEPO, KOREA (GREEN RECYCLING) UNDISCLOSED CENK T PASSENGER /RO-RO 7528635 1978 SOUTH KOREA 8,972.00 DELIVERED ALIAGA, TURKIYE UNDISCLOSED OREL AHTS 8201430 1984 CHINA 1,306.00 DELIVERED ALANG, INDIA UNDISCLOSED
