Ship Recycling Market Showing Mixed Performance in Hellenic Shipping News 23/04/2026 The ship recycling markets have exhibited a mixed performance depending on each submarket. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “Indian recyclers continue to face challenges in securing fresh tonnage, as higher price levels offered by Bangladesh are drawing vessels away from the market. Domestic steel prices remain under pressure, limiting buyers’ ability to match competing regional offers. The USD has strengthened compared to last week, though volatility persists, reflecting broader market uncertainty. Overall sentiment remains cautious, with buyers constrained by unsustainable pricing levels. Should geopolitical conditions stabilize, further USD strengthening and softer local prices across destinations may follow”. Source: Best Oasis Best Oasis added that, in Bangladesh, “the local market has softened marginally, with prices declining by approximately BDT 200 (in USD terms). Buyer appetite remains firm, with continued interest in acquiring vessel candidates. Supply of recyclable tonnage remains constrained due to ongoing geopolitical uncertainty. Limited vessel availability is expected to keep the market stable to firm, with near-term direction dependent on geopolitical developments. In Pakistan, market sentiment remains uncertain, with no recent transactions available to establish a clear direction. Buyers continue to show interest in acquiring tonnage; however, they remain unable to compete with the stronger price levels available in Chittagong, while limited vessel supply continues to constrain activity. Local scrap demand is offering some support, particularly as imports from the Middle East remain disrupted by the ongoing conflict. Finally, the Turkish market remained broadly stable this week, with no meaningful changes in pricing or overall sentiment. Additionally, most yards are currently operating at full capacity, with very limited appetite for new purchases. While fundamentals have not deteriorated, there is a clear lack of buying urgency, largely due to already full yard inventories and limited capacity to absorb additional tonnage. Buyers are therefore maintaining a wait-and-see approach, showing discipline on pricing and only considering units that fit very specific requirements”, Best Oasis concluded. Source: Intermodal Meanwhile, in a separate report this week, shipbroker Intermodal noted that “subcontinent ship recycling hubs recorded a mixed performance last week, amid constraining conditions in the local steel markets. India saw subdued activity, with several recycling candidates, mainly bulkers and offshore units, circulated at Alang, though deal execution remained challenging as offers lacked competitiveness. LPG supply constraints persist across yards, albeit with a slight improvement compared to prior weeks. India continues to benefit from its regulatory advantage, with most yards HKC-compliant, but weak domestic steel prices are limiting purchasing power. On the macro side, the IMF modestly upgraded India’s 2026 growth forecast to 6.5%, underpinned by resilient domestic demand and improving trade conditions. Bangladesh remained firm, supported by sustained buying interest and competitive offers. However, the available tonnage pool remains constrained by geopolitical conditions and elevated risk perceptions, limiting throughput. Steel plate prices eased by around $