- Dry bulk markets showed mixed performance, with Capesize rates supporting overall gains.
- WTI crude dipped amid Iraq’s Kurdistan resuming oil exports, influencing global energy supply.
- Sanctions and market pressures impacted ship recycling currencies in Bangladesh, India, and Turkey.
- Steel plate prices remained mostly stable, with India showing slight improvement.
- Industry optimism persists, anticipating better conditions for ship recycling in the near future
Global shipping and trading markets are experiencing a period of unusual divergence, with stock, charter, financial, and ship recycling markets moving in contrasting directions. While some sectors show steady improvement, others face volatility driven by shifting commodity prices and geopolitical developments. According to the report published by Marine Link, recent trends in dry bulk, crude oil, and ship recycling markets highlight this complex landscape.
In recent weeks, dry bulk markets have shown mixed results, with the Baltic Exchange Dry Bulk Index dipping nearly 7 points on Friday, as Capesizes, Panamaxes, and Supramaxes declined by 14, 3, and 4 points respectively. Despite this, the overall benchmark recorded a modest 2.5% gain, largely supported by a 5.5% firming in Capesize rates. Meanwhile, WTI crude prices fell 1% to $65 per barrel following Iraq’s Kurdistan region resuming crude exports after a 2.5-year pause, adding roughly 190,000 barrels per day, expected to rise to 230,000 bpd. This increase, driven by U.S. diplomatic pressure, comes as OPEC+ considers further output expansions, while uncertainties over Russian supply persist. The ripple effects of these developments, coupled with the influence of sanctions, have caused local currencies in major ship recycling nations like Bangladesh, India, and Turkey to weaken, while steel plate prices largely remained flat except in India. Despite the recent turbulence, there are cautious hopes for recovery and improved stability in the ship recycling sector.
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Source: Marine Link
