Ship Demolition Market Softened Last Week in Hellenic Shipping News 15/01/2026 The ship recycling market had a modest week overall. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that in India “the market softened drastically by the end of the week, as sentiment turned sharply weaker following fresh concerns linked to a potential 500% U.S. tariff threat under a proposed sanctions bill targeting buyers of Russian oil. The broader commodity complex also softened, with several commodities recording sharp daily drops, further pressuring confidence. Buyers are mainly looking to buy tonnage strictly at market level, but we do not see much tonnage entering the market, keeping activity thin. Despite the softer local mood, international scrap prices remain firm, supported by Türkiye, which continues to underpin import levels”. Source: Best Oasis Meanwhile, in Bangladesh, “the market remains subdued, with very limited movement throughout the week. Buyer participation has become extremely thin, with only a few buyers genuinely able to purchase larger tonnages. These few active buyers are expected to take advantage of the weaker market sentiment, keeping negotiations heavily in their favor. Local prices have shown some momentum, but it is not drastic at this stage, and the market remains largely range-bound. In Pakistan, the market sentiment is slightly better, with recyclers showing more willingness to engage compared to last week. Recyclers are mainly targeting bulker tonnage below the $400/lt level, keeping bid levels disciplined. The increase in international prices for re-rollable and shredded steel is giving local recyclers more optimism, supporting the overall sentiment. Finally, Türkiye remained quiet this week as the market moved through the New Year holiday period, resulting in limited reportable activity. Price levels and sentiment remained unchanged, continuing to mirror last week’s position”, Best Oasis concluded. In a separate report, shipbroker Intermodal said that “the ship recycling sector experienced a modest week, marked by cautious sentiment and regional divergences. In India, market activity remained subdued last week, as recent steel market volatility weighed on sentiment. Steel plate prices rose sharply after the New Year before correcting abruptly, prompting buyers to turn cautious and adopt a wait-and-see approach. Limited availability of recycling candidates further constrained activity. Meanwhile, the continued weakening of the Indian rupee against the U.S. dollar has heightened exchange-rate risk, making currency considerations a key factor in ship recyclers’ purchasing decisions. Recycling yards at Gadani saw modest activity, with a few bulk carrier units circulating and recyclers actively engaging in transactions. Source: Intermodal Shipbrokers Recyclers kept offers firm, capping bids at $400/ton. This modest uptick has supported market sentiment, but for Gadani to significantly increase volumes and strengthen its presence in the Subcontinent, it remains crucial for more yards to achieve HKC compliance. The steel market held steady compared with the previous week, with prices remaining at similar levels. Meanwhile, the relative stability of the local currency against the U.S. dollar continues to favour recyclers and supports incoming remittances. In Chattogram, the market showed early signs of recovery, however, overall activity remained limited despite the availability