India’s ship recycling market strengthened while conditions in Pakistan weakened under pressure from Iranian steel supplies, according to market reports carried by Hellenic Shipping News. Shipbroker Intermodal described India as the only one of the four main recycling markets showing stronger sentiment, with Bangladesh, Pakistan and Turkey broadly holding their previous indications. A shortage of vessels available for demolition continued to constrain activity.
At Alang, Intermodal reported firmer conditions and higher local steel prices, although recent price swings suggested the market was undergoing an adjustment. The Indian currency strengthened against the dollar following interest-rate and repo-rate interventions by the Reserve Bank of India, the broker said. Recycling activity at the waterfront was being maintained by vessels bought in earlier weeks, rather than a substantial flow of newly available ships.
Pakistan presented a weaker picture. Best Oasis said purchasing interest had eased, partly because some buyers had recently taken delivery of vessels. It reported a significant fall in demand and prices for local ship plate and scrap, with scrap and wire rod losing approximately $25–30 per tonne in dollar terms. The company attributed the weakness primarily to an influx of Iranian goods. Intermodal likewise described buyers at Gadani as reluctant to commit to further purchases, although its assessment put local steel prices broadly steady and slightly below the preceding week.
Both reports also noted a tanker reportedly damaged in the Strait of Hormuz being offered for recycling. Best Oasis described the vessel as having reportedly been attacked there. Separately, Intermodal said possible sanctions relief affecting certain tankers could add recycling candidates and improve the outlook for buyers in the coming weeks. That prospect remained conditional, with the broker continuing to report scarce vessel availability.
Bangladesh’s appetite for ships remained strong despite the limited supply, according to Intermodal, which reported rising local steel plate prices and one concluded bulker sale. Turkey was steadier: Best Oasis recorded an approximately $9-per-tonne weekly decline in import prices but little change in vessel prices or local conditions. Intermodal reported slightly softer steel demand at Aliaga, further lira weakness against the dollar and no fresh vessel sales.