Ship recycling markets were largely steady in the latest weekly assessments, with scarce vessel availability constraining business despite strong purchasing interest in Bangladesh and Pakistan. Hellenic Shipping News, citing reports from Best Oasis and shipbroker Intermodal, also highlighted disruption to Iranian steel imports as a source of support for Pakistani recyclers.
In Bangladesh, Best Oasis described weak market conditions but sustained demand for suitable ships, with few candidates being offered for sale. Intermodal similarly reported subdued conditions in Chattogram, where festival holidays had slowed activity in an otherwise broadly stable steel market. Mills were maintaining low inventories, although the broker said a seasonal increase in construction could alter that position. The local currency weakened against the US dollar, while slower economic growth and reduced borrowing demand had left banks with surplus liquidity, improving financing opportunities for recyclers.
Pakistan presented a mixed picture. According to Best Oasis, the reported closure of the Iran–Pakistan border had stopped Iranian steel and rebar imports after supplies had already fallen substantially in preceding weeks. The company said the resulting shortage of imported material supported demand for locally recycled steel. Intermodal nevertheless reported lower domestic steel prices amid weak demand. Vessel arrivals had remained steady, but supply across the wider recycling market was still restricted, while the currency was unchanged against the dollar.
At Alang in India, Intermodal reported stable conditions and continued positive sentiment during the festive period. Steel plate prices strengthened despite holiday closures slowing demand, and currency movements were relatively limited. Purchasers remained selective, with general cargo ships and reefers arriving alongside tankers and large specialist vessels secured earlier. The broker also reported that the number of ship recycling facilities authorised by the Gujarat Maritime Board had reached 47, describing this as progress towards yard compliance.
Turkey also saw little overall change. Best Oasis said yards remained relatively busy but selective, with vessel supply shaped by EU rules and the availability of suitable ships in or near the region. Intermodal reported slow recycling flows at Aliaga, modestly lower steel prices and cautious mills facing liquidity constraints. The lira continued to weaken, while a central bank policy-rate reduction from 37% to 36% provided some financing relief without removing wider limits on purchasing capacity.