The global ship recycling market experienced a mix of developments during Week 14 of 2025. While India saw a rise in steel plate prices, other regions such as Bangladesh and Pakistan faced stagnant market conditions, and China experienced a price decline. Activity in the subcontinent has fluctuated in recent weeks, but a slowdown was evident this week due to various economic and cultural factors. Here’s a closer look at the market trends and key takeaways from the latest GMS report.
Subcontinent Markets Stall Amid Holidays and Trade Uncertainty
This week, activity slowed significantly in Bangladesh, Pakistan, and India. In Bangladesh, despite a brief uptick in prices due to a lack of available ships, no new vessels arrived. The market remains uncertain as local recyclers await clarity on import restrictions tied to the March 31 deadline for infrastructure upgrades.
Pakistan also saw minimal activity, with Eid holidays halting operations across most yards. India, although benefiting from rising local steel prices, received only one vessel, with buyers proceeding cautiously due to concerns over U.S. sanctions and potential Chinese steel dumping. These factors collectively contributed to a quieter week for the region’s recycling sector.
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Source: MARINE LINK
