Ship Recycling Market Showing Mixed Performance in Hellenic Shipping News 26/02/2026 The ship recycling market has exhibited mixed performance over the past week. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “the Indian market experienced a roller coaster ride during the week, with sharp upand-down movements primarily driven by significant fluctuations in the exchange rate. Demand from end buyers remains fair; however, challenges persist in the resale steel market. Credit terms have extended from one day to 10 days, reflecting continued weakness in the broader steel economy. Imported scrap prices remain elevated, preventing any drastic correction in market levels. Despite this, underlying weakness continues to persist in the local market”. Source: Best Oasis Meanwhile, “the Bangladesh market remains tight, with buyers continuing to show strong intent to secure fresh tonnage. However, tonnage availability remains extremely limited, creating a supply squeeze and increasing urgency among buyers. With demand outweighing supply, market appetite is building and higher-priced sales may emerge in the near term as buyers compete for available units. The Pakistani market remained stable this week, largely mirroring last week’s conditions. Market sentiment remains unchanged, with no significant developments affecting pricing or buying interest. Finally, the Turkish import market witnessed a slight decline of approximately USD 2, mainly due to increasing supply in Aliaga. Recycling yards are not aggressive with their pricing, reflecting a cautious market stance. In the short term, no increase in buyers’ offers is expected, as supply conditions continue to weigh on sentiment”, Best Oasis concluded. In a separate report this week, shipbroker Intermodal said that “the ship recycling market showed mixed conditions across the Indian subcontinent and Turkey, with competition intensifying despite uneven economic fundamentals and shifting local sentiment. Bangladesh regained a leading position among recycling markets, as local yards demonstrated renewed purchasing appetite, particularly for larger and better-maintained vessels. Improved political clarity following recent elections appears to have restored confidence, prompting recyclers to offer more competitive prices in order to secure tonnage. As a result, several sizeable vessels were delivered during the week, while additional candidates are reportedly being negotiated. Firmer domestic steel prices and a slightly stronger currency have also supported the improved outlook, suggesting that activity could remain elevated in the near term despite persistent inflationary pressures. Indian recyclers continued to secure a steady flow of vessels, particularly units requiring specialized handling or meeting higher environmental standards. Although domestic market signals remain mixed, there are early indications of stabilization following a volatile period. Source: Intermodal Currency weakness and softer steel prices have limited aggressive bidding for conventional large units, leaving India less competitive in that segment. Nevertheless, the country maintains structural advantages, including extensive yard capacity and internationally approved recycling facilities, ensuring that demand remains relatively resilient. Pakistan showed encouraging signs of recovery, with increased vessel arrivals and improved yard utilization after a prolonged quiet period.