- Baltic Dry Index Records Modest 2% Weekly Gain Amid Global Uncertainty.
- Oil Prices Drop 18% Year-on-Year to USD 59.81 per Barrel.
- India and Bangladesh See Sudden Rise in Incoming Tonnage.
In the world of ship recycling, timing is everything. Just think back to the summer of 2006, when India experienced a staggering drop of about USD 100 per ton overnight due to a sudden steel price crash. That’s how quickly things can change! According to cash buyer GMS, even a week can lead to significant shifts, especially with the ongoing global market turbulence that’s only making this volatility worse, reports Ship Recycle.
Global Indicators Show Mixed Trends
“Going through the checklist of key economic factors affecting the state of global ship recycling today, while the world awaits inflation reports from India and the U.S. (where the government is currently shut down), the Baltic Exchange Dry Index reported a marginal increase as it climbed a mere 13 points by close of Friday on the back of Capesize and Panamax indices both reporting a 13 and 34 point bump in their values, as the small vessel index fell to its lowest level since late August, resulting in the overall index still reporting a near 2% climb this week. Moreover, despite the rising trade rates, oil continues to take a hammering closing at a lowly USD 59.81 / barrel, a number that today stands 18% lower than the same time last year.”
Increased Tonnage at Indian and Bangladeshi Yards
This week, both India and Bangladesh have noticed a notable uptick in the tonnage arriving at their anchorage points. This surge suggests that there’s some movement happening in what has otherwise been a pretty uncertain recycling landscape.
Steel Price Declines Deepen Market Instability
According to GMS, “Eroding fundamentals in the form of declining steel plate prices continue to see weekly disagreements as levels in some locations continue to devolve without end, while others display false hopes via marginal weekly improvements that disappear in subsequent ones.”
Turkey Remains Stagnant as Market Uncertainty Persists
“Turkey at the far end remains fashionably late with no progress in volumes, other than the occasional private fixture making the rounds. As week 41 of 2025 / week 2 of October passes, a spook and a whoa later, the market remains just as devolved and unpredictable as ever.”
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Source: Marine Link
