Week 09 of 2026 shows a ship recycling market operating cautiously as steel price weakness, currency volatility, and macro uncertainty continue to influence buyer behavior across the Indian Subcontinent.

Even without excessive vessel supply, demolition prices have struggled to move higher. Recyclers in Bangladesh, India, and Pakistan are maintaining strict pricing discipline as local steel fundamentals remain soft and exchange rate movements increase transactional risk.

In this episode, Grace and Ryan examine the core drivers shaping the global ship recycling market, including geopolitical developments, oil price movement, steel plate trends, freight sentiment, and subcontinent currency performance.

Key market developments this week:

Continued macro uncertainty affecting commodity and currency stability

Bangladesh continues to lead pricing across most vessel categories. India follows closely but remains selective, particularly on HKC compliant tonnage. Pakistan’s pricing reflects ongoing banking and liquidity constraints. Turkey remains at the lower end of the pricing spectrum due to softer imported scrap fundamentals.

The broader tone of the market is cautious rather than reactive. Buyers are active, but they are protecting margins. Steel direction remains the primary anchor for pricing decisions, and until stronger support develops, recyclers are unlikely to stretch significantly.

This episode provides practical insight into demolition pricing trends, subcontinent steel movements, and market positioning for shipowners, cash buyers, brokers, recycling yards, maritime investors, and shipping professionals navigating 2026 conditions.

For those involved in vessel recycling and ship demolition markets, this weekly update offers clear perspective on pricing leadership and the factors to monitor in the weeks ahead.

Week 8 of 2026 delivered a volatile yet constructive shift in the global ship recycling market. Freight rates, oil prices, steel fundamentals, and currencies all moved sharply before partially retracing by the end of the week. Despite Chinese New Year holidays, recycling supply surprised the market with approximately 151,000 LDT across 16 vessels delivered or arrived across India, Bangladesh, and Pakistan.

In this episode, Ingrid and Henning examine the key drivers shaping the demolition market:

The Baltic Dry Index rebounding 1.2 percent, led by Capesize and Panamax strength

This episode provides in-depth analysis of demolition pricing direction, port activity in Alang, Chattogram, and Gadani, currency performance, inflation trends, and the macroeconomic forces influencing vessel recycling markets in 2026.

The discussion is tailored for shipowners, cash buyers, brokers, recycling yards, maritime investors, and shipping professionals seeking actionable insight into global ship demolition pricing and subcontinent market dynamics.

The global ship recycling market saw another shift in Week 7 of 2026 as key fundamentals moved in different directions across the sub-continent. The Baltic Dry Index declined by 0.6 percent, mainly due to weaker Capesize and Panamax performance, while Supramax rates improved. Oil prices held near USD 62.8 per barrel as markets continued to monitor U.S. and Iran tensions.

In this week’s episode, Ingrid and Henning discuss how the U.S. Dollar strengthened against most recycling nation currencies, with India being the exception as the Rupee improved to around INR 90.6. Steel plate prices reversed course in India, falling nearly USD 10 per ton, while Pakistan maintained the strongest fundamentals in the region with plate prices holding near USD 594 per ton.

Bangladesh reached a political milestone as the BNP secured a more than two-thirds majority in the general elections. The result is expected to support long-delayed infrastructure projects and could improve domestic steel demand in the months ahead. The country also adopted the International Ready for Recycling Certificate framework, aligning with regional compliance requirements under the Hong Kong Convention. Steel plate prices in Bangladesh remained flat near USD 494 per ton, while the Taka weakened slightly.

Pakistan continued to lead pricing tables, supported by firm steel levels, stable currency performance near PKR 279.6, and rising anchorage activity totaling nearly 30,000 LDT across multiple bulk carriers. India’s anchorage activity also remained active with more than 47,000 LDT present, despite softer steel prices. Turkey remained quiet, with limited activity in Aliaga and the Lira weakening toward TRY 44.

This episode covers demolition pricing direction, steel and currency movements, port activity in Alang, Chattogram, and Gadani, and the ongoing shortage of recycling candidates. The discussion is intended for shipowners, cash buyers, recyclers, brokers, and maritime professionals following developments in the global demolition market

The global ship recycling market saw another sharp shift this week as the U.S. dollar weakened across nearly all recycling destinations, providing fresh support to buyer sentiment across the sub-continent. Steel fundamentals also strengthened significantly, with India, Pakistan, and Bangladesh reporting notable weekly jumps in local steel plate prices.

In this week’s ship recycling market podcast, Ingrid and Henning break down the latest movements in the Baltic Dry Index, oil prices falling below sixty-two U.S. dollars per barrel, and how improving domestic fundamentals are reshaping pricing expectations across the Indian sub-continent.

Pakistan continues to lead the market, supported by firm steel levels, improving currency performance, and renewed demand for dry bulk candidates. Bangladesh re-enters the spotlight as Chattogram activity increases, though uncertainty remains high with national elections approaching mid-February. India shows stronger footing as steel prices rebound and the Indian Rupee strengthens, while Turkey remains subdued, with Aliaga activity limited and the Turkish Lira continuing its gradual decline.

This episode also highlights the ongoing shortage of recycling candidates, increased interest in older handy bulkers and LNG units, and the evolving balance of supply and demand shaping demolition pricing into early 2026.

Designed for shipowners, cash buyers, recyclers, brokers, financiers, and maritime professionals tracking global demolition markets, this weekly discussion covers pricing direction, market sentiment, HKC compliance developments, and the key risks and opportunities currently shaping the ship recycling landscape.

The global ship recycling market enters February under renewed pressure as currency volatility, rising oil prices, and shifting fundamentals reshape buyer behavior across key recycling destinations.

In this week’s market update, Ingrid and Henning discuss how Pakistan strengthens its position following another HKC-approved yard and firm steel fundamentals, while Bangladesh returns to the bidding tables but remains constrained by weak steel prices, currency pressure, and upcoming elections. India stays active at the anchorage despite record Rupee weakness and soft plate prices, keeping pricing selective, while Turkey sees steady demand supported by RoRo arrivals even as the Lira continues to depreciate.

The episode also covers movements in the Baltic Dry Index, oil prices crossing USD 65 per barrel, regional currency trends, steel plate pricing across the sub-continent, HKC compliance developments, and evolving tonnage supply expectations as Q1 2026 unfolds.

Designed for shipowners, cash buyers, recyclers, brokers, financiers, and maritime professionals monitoring global demolition markets, this weekly conversation highlights pricing direction, compliance momentum, and the key risks and opportunities shaping the ship recycling landscape.

The global ship recycling market continues to shift as volatility, currency pressure, and limited vessel supply reshape buyer behavior across key destinations.

In this episode, Ingrid and Henning discuss the latest developments across the Indian sub-continent and Turkey, as market rankings reshuffle and sentiment moves rapidly week to week.

Bangladesh falls to the bottom of the regional pricing table amid weak bidding activity and upcoming elections, while Pakistan moves to the top following improved demand, reduced Iranian steel imports, and the addition of another HKC-compliant yard with Salams International receiving its Statement of Compliance from ClassNK.

India remains active for specialist tonnage such as LNG carriers and non-ferrous-rich vessels, though continued Indian Rupee weakness and steel price sensitivity keep recyclers cautious. Turkey experiences renewed activity with increased RoRo arrivals, even as ongoing Lira depreciation limits longer-term upside.

This weekly market conversation covers recycling pricing levels, currency movements, steel fundamentals, tonnage flows, and what shipowners, brokers, and maritime stakeholders should be watching as 2026 unfolds.

Designed for shipowners, cash buyers, recyclers, brokers, financiers, and maritime professionals monitoring global demolition markets and vessel recycling trends.

The global ship recycling market remains cautious as currency pressure, steel price volatility, and limited vessel supply continue to shape buyer behavior across key destinations.

In this episode, Ingrid and Henning break down the latest developments across the Indian sub-continent and Turkey, as recyclers navigate weakening local currencies, uneven steel plate prices, and selective demand for tonnage.

The discussion explores why recycling prices continue to hover around the critical USD 400 per LDT level, how Bangladesh has regained its position as the most competitive destination for large LDT vessels, why India’s early-year rebound quickly reversed, and why Pakistan remains eager for tonnage but constrained by limited deliveries and yard availability.

The episode also looks at renewed activity in Turkey following recent RoRo arrivals, the impact of a strong U.S. Dollar on recycling sentiment, and what shipowners should be watching as global uncertainty continues into early 2026.

This market update is designed for shipowners, brokers, recyclers, financiers, and maritime professionals tracking global demolition pricing, tonnage flows, and regional recycling trends.

Offshore units are not conventional ships, and recycling them safely requires a different level of planning, structural scrutiny, and environmental control. In this episode of Beyond the Last Voyage, Jamie Dalzell, Head of GMS Singapore, is joined again by Capt. Yogesh Rehani, Head of Operations at GMS, to discuss how GMS manages the last voyage of FPSOs, FSOs, semi submersibles, and jack up rigs.

Capt. Yogesh explains why these assets are more complex to prepare for recycling, including production systems, piping, residues, and the structural risks that come with age, steel wastage, and exposed topside equipment. The conversation covers towage readiness, flare mast protection, stability concerns, and the importance of emergency measures during ocean passages.

The episode also revisits landmark operations that helped reshape industry confidence, including the long distance tow of a semi submersible from Brazil and the successful delivery and beaching of a jack up rig in Chittagong, supported by rigorous inspection, daily monitoring, and alignment with marine warranty surveyor requirements.

Safety and environmental responsibility remain central throughout. Capt. Yogesh describes how GMS follows MARPOL and IMO expectations for residue control and documentation, and why cutting corners is never an option when lives, reputation, and environmental integrity are at stake.

Week 2 of 2026 brings heightened volatility to the global ship recycling market as geopolitical tensions, rising oil prices and unstable currencies reshape buyer sentiment across the sub-continent.

In this episode, Henning and Ingrid explain why USD 400 per LDT has become the key pricing level for shipowners, how Bangladesh has surged back to the top of the market, why India’s New Year rebound quickly reversed, and why Pakistan remains financially strong but constrained by HKC yard capacity. Turkey continues to struggle under a weakening lira and regulatory pressure, keeping Aliaga on the sidelines.

The episode also looks at how steel prices are shifting across India, Pakistan and Bangladesh, how Chinese New Year could affect vessel availability, and what owners with ageing ships should be watching as 2026 begins.

This episode covers:

Ship recycling prices for bulkers, tankers and containers

Bangladesh, India, Pakistan and Turkey market trends

Steel plate price volatility

Currency movements and buyer sentiment

HKC yard capacity and certification limits

Port activity and tonnage flows

This podcast is essential listening for shipowners, brokers, capital providers, recyclers, and maritime professionals tracking global scrap ship markets.

When a vessel is sold on an As Is Where Is basis, every operational, safety, and environmental risk transfers to the buyer. This first episode of Beyond the Last Voyage explains what that really means inside the global ship recycling industry.

Hosted by Jamie Dalzell, Head of GMS Singapore, this episode features Capt. Yogesh Rehani, Head of Operations at GMS, who has spent more than 25 years managing last voyage projects involving damaged, abandoned, and non-operational ships.

Listeners are taken inside the real world of ship recycling takeovers. From boarding vessels in blackout conditions to restoring flooded engine rooms and assessing fire and collision damage, Capt. Yogesh explains how GMS evaluates risk, stabilizes vessels, and moves them safely to recycling yards in the subcontinent.

The conversation includes real case studies, including a cruise ship with a flooded engine room that was repaired and sailed under its own power, a tanker that sat idle off West Africa for more than 14 years before being reactivated, and multiple fire damaged and collision damaged ships delivered through carefully engineered towage and voyage planning.

This episode shows how ship recycling is not just about steel. It is about marine engineering, risk management, crew safety, environmental protection, and honoring contractual commitments. GMS operates as a marine operator first and a cash buyer second, which is why shipowners, underwriters, and brokers rely on GMS when the stakes are highest.

Beyond the Last Voyage reveals the discipline, preparation, and technical judgment required to complete the final journey of a vessel safely and responsibly.

WHAT YOU WILL LEARN