Ship Recycling Markets Remain Firm With Bangladesh Leading in Hellenic Shipping News 14/05/2026 D espite challenging overall conditions, the ship recycling markets remained firm, with a clear edge from Bangladeshi recyclers. In its latest weekly report, Best Oasis ( www.best-oasis.com ), a leading cash buyer of ships, said that “the Indian local market remains good, with overall sentiment holding steady. However, the exchange rate remains very high, restricting India’s ability to compete with Bangladesh and Pakistan on regular tonnage. As a result, India is expected to remain limited mainly to specialized assets, while bulkers and tankers are likely to continue moving toward Bangladesh and Pakistan where pricing remains more competitive”. Source: Best Oasis Meanwhile, “the Bangladesh market remains firm, although local market conditions have softened compared to the strong momentum seen over the past two weeks. Buyers are still keen to acquire vessels, but their appetite has become more cautious. Heavy rainfall in Chattogram has affected activity and reduced immediate demand in the market. With the monsoon season approaching, prices are expected to remain within the current range, though sentiment may stay slightly negative over the next two to three months due to weather disruptions and slower demand. The Pakistan market has seen no major change this week, with sentiment holding at similar levels to last week. Buyers remain keen to acquire tonnage, but Pakistan is still unable to compete with Bangladesh on pricing. The market is supported by a shortage of imported scrap and shredded steel from the Gulf region following recent regional tensions. This shortage has given the market a stronger tone, although the active buyer base remains limited. A recent vessel sale reported at around USD 456/LDT has further supported firm price ideas in the market. Finally, the Turkiye market remains largely unchanged this week, with no major movement in local sentiment or price leve