The dry bulk market continues to experience rising charter rates, with Capesize and Panamax sectors leading the trend, reports cash buyer GMS. However, this surge has contributed to a shortage of available tonnage at bidding tables.
Ship Recycling Market Faces Pressures
Despite healthy vessel arrivals and deliveries at ports in Bangladesh and India, ship recycling remains volatile, affected by:
- A drop of over USD 150/LDT since January 2024, when container vessel prices peaked at USD 600/LDT.
- Ongoing economic and trade pressures leading to declining vessel prices.
- Ship recyclers struggling to maintain aggressive pricing due to unstable market conditions.
Regional Ship Recycling Trends
- Bangladesh: Facing political protests and unrest, impacting the recycling sector.
- India: Failing to sustain price momentum, approaching Pakistani levels.
- Pakistan: Has become more active in ship recycling, surpassing India in ranking.
- Turkey: No significant market changes, aside from one surprising sale this week.
Hong Kong Convention Compliance
Many ship recycling yards are focusing on upgrading their facilities ahead of the Hong Kong Convention (HKC), set to come into force on June 26, 2025.
GMS Demo Rankings – Week 10, 2025
GMS has yet to release exact pricing details, but market conditions suggest fluctuating demand and a cautious approach by ship recyclers.
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Source: MARINE LINK
