GMS Podcasts

In this Week 38 edition of the GMS Weekly Podcast, we cover the latest ship-recycling market trends, freight activity, steel prices, and key port updates from India, Bangladesh, Pakistan, and Turkey.

Global Market Overview

Freight activity stayed mixed as the Baltic Dry Index held steady: Capesize gained about 1 percent, while Panamax and Supramax fell nearly 2 percent and 3 percent.

Oil prices moved only slightly higher, with WTI crude closing at USD 62.74 per barrel, still down 1.4 percent for the month and 10.8 percent year on year.

Currency markets softened: Indian rupee firmed to INR 88.09, Pakistani rupee to PKR 283.44, Bangladeshi taka to BDT 121.74, while Turkish lira slipped to TRY 41.41.

Steel plate prices were steady across major recycling hubs: India USD 448 per ton, Pakistan USD 619 per ton, Bangladesh USD 519 per ton.

Bangladesh

India

Pakistan

Turkey

Beach Breakdown

For full details, vessel rankings, and port positions, download the GMS Weekly on our website or mobile app. Follow GMS on LinkedIn, Facebook, Instagram, and Twitter for daily updates.

Northern Europe’s shipping heartbeat is pulsing with profit. In this Hamburg special of Inside the Markets from GMS Podcasts, host Jamie speaks with Henning Prinzen, Head of the GMS Hamburg Office, to examine how German shipowners are prioritizing trading income over ship recycling.

Henning explains how high charter rates and steady freight earnings across bulkers, tankers and container feeders keep ships active while recycling yards wait. With the Baltic Dry Index up 7.4 percent, crude holding near USD 62.74 per barrel and strong time charter demand, owners are locking in long term charters, forward deliveries and sale and leaseback deals to capture today’s cash flows.

Trading vs. Recycling: why strong earnings mean no tankers or bulkers heading for recycling in the near term

Market Numbers: steel plate prices at India USD 448 per ton, Pakistan USD 625, Bangladesh USD 519, with the Indian rupee in the high 88s per USD and the Pakistan rupee around 284

Owner Strategy: efficient maintenance, creative financing and forward deals to hedge revenue and extend vessel life

Future Outlook: what would trigger a sudden shift from trading to recycling and how HKC approved yards in the Indian subcontinent or Turkey fit long term plans

From Hamburg boardrooms to global yards, the message is consistent: earn now, recycle later until freight softens.

Follow GMS Podcasts for market intelligence and regional updates from our country heads in Asia, the Middle East, and Europe. Subscribe to the GMS Podcasts and follow GMS on LinkedIn for future updates and discussions.

In this Week 37 edition of the GMS Weekly Podcast, we cover the latest ship recycling market trends, freight activity, steel prices, and key port updates from Bangladesh, India, Pakistan, and Turkey.

Freight activity strengthened as the Baltic Dry Index rose 7.4 percent, with Capesize up 1.0 percent, Panamax 0.4 percent, and Supramax 0.5 percent.

Oil prices moved higher, with WTI crude closing at USD 62.74 per barrel.

Currency markets weakened: Indian rupee fell to INR 88.28, Pakistani rupee to PKR 284, Bangladeshi taka to BDT 122.02, and Turkish lira to TRY 41.33.

Steel plate prices were steady across major recycling hubs: India USD 448 per ton, Pakistan USD 625 per ton, Bangladesh USD 519 per ton.

Conditions remain bleak. Political uncertainty and slow Hong Kong Convention approvals continue. Only one 30 K LDT LNG carrier arrived. Recyclers face unsold inventories, and although inflation eased to 8.28 percent, ship recycling activity remains minimal.

Alang saw an influx of more than 155K LDT, including two large 33K LDT LNG carriers and several tankers. Despite this, a record-low rupee and tariff concerns kept buyers cautious. Steel plate prices held at USD 448 per ton and overall sentiment stayed restrained.

Gadani recorded no arrivals for the second week. Plate prices remained high at USD 625 per ton. Provisional DASRs and slow Hong Kong Convention yard upgrades kept buyers ready but inactive. The Pakistani rupee weakened to PKR 284.

Activity stayed quiet. Red tape remains an issue, the lira slipped to TRY 41.33, and no market sales were reported.

Freight markets strengthened and steel prices were unchanged. India had notable LNG arrivals, while Bangladesh, Pakistan, and Turkey experienced another subdued week.

For full details, vessel rankings, and port positions, download the GMS Weekly on our website or mobile app. Follow GMS on LinkedIn, Facebook, Instagram, and Twitter for daily updates.

In this GMS Podcast episode, host Ingrid sits down with Dr. Anand Hiremath, CEO of the Sustainable Ship and Offshore Recycling Program (SSORP), to examine two sharply different approaches to ship recycling and what they mean for ship owners worldwide.

The conversation starts with Canada’s Deep Water Recovery case in British Columbia, where regulators found repeated toxic discharges of heavy metals such as copper and lead, weak pollution controls, and long legal disputes. This case illustrates the environmental and business risks of recycling a vessel without strong oversight and clear waste-handling systems.

Dr. Anand then takes listeners to Alang, India, where more than one hundred ship recycling yards are certified under the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC) and many also meet EU Ship Recycling Regulation standards.

Key insights include:

How HKC yards build a Ship Recycling Plan from a detailed Inventory of Hazardous Materials before a vessel arrives.

Use of impermeable flooring and closed drainage to capture and treat oil, paint scrapings and wash water, preventing ocean contamination.

Worker training and ISO 45001 safety systems, with protective equipment, insurance and family health coverage.

Independent audits by ClassNK, Lloyd’s Register and other IACS members, ensuring constant compliance instead of slow court battles.

Circular economy benefits: re-rolling 75 percent of hull steel cuts energy use by about 58 percent and avoids around 1.6 tonnes of CO₂ per tonne of steel compared with melting in European dry docks.

Regulated removal and off-site treatment of hazardous waste such as asbestos.

Dr. Anand explains why HKC-compliant beaching in Alang can match or exceed dry-dock recycling in environmental performance, while offering the scale and steel reuse rates global shipping needs.

For ship owners, cash buyers and maritime professionals, this episode provides practical guidance on choosing a ship recycling destination that is verifiably safe, cost-effective and climate-friendly.

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In this Dubai special of Inside the Markets from GMS Podcasts, host Jamie speaks with Simos, Head of the GMS Dubai Office, to examine the latest developments in ship recycling and pricing across India, Pakistan and Bangladesh. Dubai’s position at the centre of tanker trading and ship disposal offers a unique perspective on market opportunities and risks.

Discussion highlights include:

This episode provides detailed market intelligence for shipowners, brokers and recyclers navigating currency risk, regulatory change and freight dynamics.

Follow GMS Podcasts for market intelligence and regional updates from our country heads in Asia, the Middle East, and Europe. Subscribe to the GMS Podcasts and follow GMS on LinkedIn for future updates and discussions.

In this Week 36 edition of the GMS Weekly Podcast, we break down the latest developments in the global ship recycling market, with updates from Bangladesh, India, Pakistan, and Turkey. This week’s theme: Treading Water & Testing Nerves.

Global Overview:

Baltic Dry Index at 1,979, up 0.8%, though overall freight slid 2.3%.

Oil prices extended losses: WTI settled at USD 61.9 per barrel.

Currency shifts: Indian rupee at record lows in the 88s, Pakistani rupee steady at PKR 283.52, Bangladeshi taka slipped, Turkish lira at TRY 41.25.

Steel plate prices: India flat at USD 448.88/ton, Pakistan firm at USD 625.44/ton, Bangladesh down sharply to USD 519.59/ton.

Bangladesh:

India:

Pakistan:

Turkey:

Beach Breakdown:

For full details, vessel rankings, and port positions, download the GMS Weekly on our website or mobile app. Follow GMS on LinkedIn, Facebook, Instagram, and Twitter for daily updates.

In this episode of Inside the Markets from GMS Podcasts, we provide a clear update on ship recycling activity across India, Pakistan, and Bangladesh. The discussion focuses on pricing, compliance requirements, freight market effects, and regional developments that are shaping today’s recycling decisions.

Hosted by Vagelis Chatzigiannis, Head of the GMS Greece Office, with insights from Jamie Dalzell, Head of the GMS Singapore Office, the episode covers the factors driving both opportunities and risks in the recycling market.

Discussion highlights include:

India’s continued activity with more than 110 HKC-certified yards, supported by compliance and international credibility despite currency volatility

Pakistan’s position as the regional price leader with strong plate values and currency stability, but limited concluded deals

Bangladesh’s slowdown driven by flat plate prices, high inflation, and political uncertainty ahead of elections

The role of the Baltic Dry Index and stronger freight earnings in delaying ship supply across bulkers and containerships

The increasing importance of compliance, IHM documentation, and sanctions risk for international owners

Market expectations for tankers, LNG carriers, and broader regional competition heading into Q4

Flash Forecast:

Most likely ship type to recycle next month: tankers

Preferred destination today: India for compliance, Pakistan for pricing

Biggest current risk: currency volatility in South Asia

This episode provides straightforward insight into how shipowners and recyclers are balancing compliance, currency, and capacity challenges.

Follow GMS Podcasts for market intelligence and regional updates from our country heads in Asia, the Middle East, and Europe. Subscribe to the GMS Podcasts and follow GMS on LinkedIn for future updates and discussions.

In this Week 35 edition of the GMS Weekly Podcast, we cover the latest developments in the global ship recycling markets, with updates from India, Pakistan, Bangladesh, and Turkey. This week’s theme, Snoring September, highlights slowing supply, currency pressure, and the uneven pace of activity across the sub-continent.

Global Overview:

Oil held steady with WTI at USD 64 and Brent at USD 68.

The Baltic Dry Index closed at 2,025, the strongest in a month, led by Panamaxes and Supramaxes while Capes slipped.

Supply of recycling candidates slowed, with only a handful of fresh arrivals.

India’s rupee collapsed to record lows, while Pakistan and Bangladesh currencies stayed steady.

Steel plate prices: India USD 449/ton (up), Pakistan USD 622/ton (steady), Bangladesh USD 542/ton (flat).

Bangladesh:

No new arrivals for the second straight week, keeping Chattogram silent.

HKC compliance hurdles and weak demand weigh on sentiment.

Inflation above 8 percent, steel plate at USD 542/ton, and Taka steady at 121.7.

Larger LDT units still draw some attention, smaller vessels diverted to India or Pakistan.

India:

Remains the busiest recycling destination, logging seven vessels, three of which were new arrivals.

Steel plate climbed to USD 449/ton, but the rupee collapsed to 88.3 against the dollar.

HKC-ready yards remain a strength, with Alang able to handle compliant tonnage.

Recyclers are cautious despite activity, hedging against costs and currency pressure.

Pakistan:

Logged one vessel, but Gadani remains the best-priced market.

Plate prices steady at USD 622/ton, the highest in the region.

Currency stable at PKR 281.8, supporting margins.

DASR approvals keep recyclers hungry and positioned for larger LDT units.

Turkey:

Weak sentiment continues as both lira and plate prices slipped.

Prices now USD 250–270/ton across vessel types.

Market remains the least attractive among the four destinations.

Beach Breakdown:

Bangladesh: silent

India: active but cautious

Pakistan: stable with buyers waiting

Turkey: still struggling

For full details, vessel rankings, and port positions, download the GMS Weekly on our website or app. Follow GMS on LinkedIn, Facebook, Instagram, and Twitter for daily updates.

In this episode of the Inside the Markets series from GMS Podcasts, we focus on India – the anchor of South Asia’s ship recycling industry and home to the world’s largest cluster of Hong Kong Convention–compliant yards. Despite sanctions, tariffs, and global trade headwinds, India continues to attract complex tonnage, including LNG carriers and tankers, while providing owners with predictable, compliance-driven recycling solutions.

Jamie Dalzell, Head of the GMS Singapore Office, speaks with Kiran Thorat, Head of the GMS India Office, about how Alang’s recyclers are navigating shifting prices, U.S. tariffs, sanctions risk, and growing international scrutiny while still maintaining India’s leadership in global ship recycling.

The discussion covers:

Current pricing spreads across India, Pakistan, and Bangladesh, with Pakistan leading but India offering stability

How compliance and HKC-certified yards keep India attractive to international shipowners

The rise of LNG and tanker recycling in Alang, and how India manages complex vessels safely

The impact of U.S. tariffs, sanctions, and Chinese steel exports on India’s market and plate prices

Regional outlook: Bangladesh’s flat market, Pakistan’s comeback, and India’s compliance advantage

Flash Forecast: Most likely ship types, destination choices, and biggest risks heading into Q4

From LNG carriers to overaged tankers, Kiran shares frontline insight into how India is balancing opportunity and risk in today’s volatile market.

In this Week 34 edition of the GMS Weekly Podcast, we cover the latest developments in the global ship recycling markets, with updates from India, Pakistan, Bangladesh, and Turkey. This week’s theme, Method to the Madness, highlights frustrating conditions, softer pricing, and uneven buyer activity across the sub-continent.

Global Overview:

Oil edged up 0.2% to USD 63 per barrel as Ukraine conflict pressures continued.

The Baltic Dry Index rose 2.7%, with gains across capes, panamaxes, and smaller segments.

Supply of recycling candidates remains limited despite recent LNG and tanker arrivals.

Prices have cooled and are holding at lower post-HKC levels.

Bangladesh:

Market flat with no new arrivals or deliveries reported.

Demand for smaller LDT units is absent, while only select large capes draw interest.

Recycled steel continues to stockpile as mills import cheaper raw material.

The Taka weakened to 121.65 against the dollar.

Economic and political uncertainty persists, keeping buyers away.

India:

Alang remains the busiest and most reliable recycling destination despite sanctions and tariff pressure.

About 140,000 LDT currently at anchorage or delivered, including another LNG and tanker.

Steel prices improved slightly to USD 436 per ton; the Rupee firmed to 87.33.

Concerns remain about Chinese steel imports undercutting domestic values.

Pakistan:

Still offering the highest prices in the region at USD 622 per ton.

Market activity is muted with limited arrivals and few workable candidates.

Yards with DASRs are holding back for larger vessels.

The Rupee strengthened to 283.15, but inflation and investor outflows add risk.

Pakistan remains the best-priced location for quick deals if supply improves.

Turkey:

The Lira slipped again to 40.91, briefly above 41.

Government imposed a ban on direct vessel calls to and from Israel, cutting supply potential.

Inflation is easing, but Aliaga’s yards remain without new arrivals.

The GMS Weekly is the trusted source for ship demolition pricing, steel plate trends, HKC compliance, and port-by-port market activity across the Indian subcontinent.

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