Losses in various individual sectors along the entire dry bulk range across the recent past saw the overall benchmark index lose about 5% of its overall value, which would explain the recent (and ongoing) influx of tonnage into the West Coast Indian and even Pakistani waterfronts spanning several weeks now, reports MarineLink citing the cash buyer GMS.
“And despite recent deliveries of a wide collection of sizes and types of vessels (especially in Alang), the overall sentiment in the Indian sub-continent remains on watchful footing while trying to surf the wakes of Trump’s ongoing tariff conundrums, which continue to confuse and frustrate global trade markets through what was hoped to have been a positive outcome to the deal makers’ recent meeting with Putin raising the question, is there a method to this madness.”
Recyclers wary despite tonnage influx
Moreover, given the volumes that markets have been accustomed to, the comparatively (and maddeningly) slower summers of 2024 and even 2025 is certainly of concern, says GMS, given that the industry clearly miscalculated 2025s recycling performance as being compensation for 2024’s dearth of tonnage. Most of the seriously over-aged tonnage that has been trading since post-covid, has not come for recycling in 2025.
Though there have been several large LDT LNG carriers sold for recycling recently, and despite the arrival of yet another one at Alang’s waterfront this week, there has not been the level of market activity at the bidding tables of late.
All of this occurring just as DASR-backed Gadani recyclers have started to come back into the picture of late, taking both negotiations and HKC upgrades seriously to stay relevant. Bangladesh remains the lowest placed of all markets, with glimmers of occasional interest on select larger LDT units popping up as demand and pricing remain woeful.
India has clearly been active on their share of non-ferrous units, while remaining cagey as tariff traumas sandwiched by potential sanctions by a clueless administration leaves them on edge.
GMS demo rankings / pricing for week 34 of 2025 are:
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Source: Marine Link
