Ship Recycling a Mixed Bag Last Week in Hellenic Shipping News 19/03/2026 The ship recycling market had a mixed week in terms of its performance. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “the Indian ship recycling market experienced a slight slowdown this week as the strengthening U.S. dollar has made purchases more expensive for local buyers, resulting in somewhat softer buying interest compared to the previous week. However, the limited availability of incoming vessels has helped support overall sentiment, with recyclers still showing interest due to the relatively low supply of tonnage in the market. Meanwhile, “activity in the Bangladeshi ship recycling market improved this week, with pricing levels moving higher amid healthy demand from local buyers. Market sentiment was further supported by reports of a recent vessel concluded at notably strong levels by a Chinese seller, reportedly close to the USD 440 mark, highlighting the willingness of recyclers to secure available tonnage. With buyers remaining active and pricing firming, the overall market direction appears to have strengthened compared to the previous week”. Source: Best Oasis Best Oasis added that “the Pakistani ship recycling market remained largely unchanged from the previous week, with activity continuing to be subdued. Market participants are closely monitoring ongoing geopolitical tensions and the evolving war situation, which has contributed to a cautious and somewhat nervous sentiment among buyers. In addition, the lack of available tonnage being offered to local recyclers has resulted in minimal movement in the market, with stakeholders largely adopting a wait-and-watch approach. Finally, the Turkish ship recycling market remained steady this week, with no significant changes observed in underlying market dynamics. Despite expectations in the previous week that increasing numbers of candidate vessels could place downward pressure on pricing, no such movement has materialized so far. As a result, the market remains largely unchanged, with any potential shifts in pricing or activity likely to emerge in the coming week”, Best Oasis said. Meanwhile, in a separate weekly report, shipbroker Intermodal said that “subcontinent markets displayed a mixed landscape last week, with Bangladesh faring relatively better, while energy flow disruptions linked to the Middle East conflict casted uncertainty. In India, the market remained subdued, weighed down by the weakening of the Indian rupee against the US dollar, which has eroded buyers’ purchasing power and dampened demand. On the energy side, concerns over the adequacy of gas supplies persist, though no major disruptions have materialized so far. Starting this week, the Ship Recycling Industries Association (SRIA) will restrict LPG supply to ship recycling yards, likely slowing operational activity. Macroeconomic challenges, driven by currency depreciation and rising inflation, which hit 3.21% in February, combined with ongoing foreign capital outflows, cloud the outlook. At Chattogram, the ship recycling market remains firm, supported by strong buyer interest, a steady inflow of candidates, and a local steel market holding firm, with prices rising influenced by Middle East geopolitical developments. However, the positive momentum is increasingly offset by energy constraints. Source: Intermodal Fuel restrictions are weighing on the economy, curbing industrial outpu