GMS Weekly Podcast | Week 49 Ship Recycling Market Update: Global Slowdown, HKC Momentum, and Year-End Trends

from GMS Podcasts · host Nayeem Noor

In this Week 49 edition of the GMS Weekly Podcast, Grace and Ryan review the latest ship recycling market developments across Bangladesh, India, Pakistan, and Turkey. The final weeks of 2025 brought softer steel prices, weaker currencies, and a continued shortage of available tonnage. The Baltic Dry Index slipped about 3 percent, oil steadied near 59 dollars 70 cents a barrel, and local plate levels fell by roughly 5 dollars per ton across the sub-continent. Bangladesh remains at the top of the price rankings despite a quieter market, while India faces another week of limited arrivals and declining fundamentals. Pakistan is building momentum following confirmation of its first Hong Kong Convention-approved yard in Gadani, and Turkey shows modest improvement as local steel prices rise 10 dollars per ton. Ingrid and Henning also discuss year-end sentiment, the impact of currency moves, and expectations for 2026 as recyclers invest in new HKC-compliant capacity. For full details, vessel rankings, and port positions, download the GMS Weekly on our website or mobile app. Follow GMS on LinkedIn, Facebook, Instagram, and Twitter for daily updates.

What this episode covers

In this Week 49 GMS Weekly Podcast, Ingrid and Henning review another quiet period for global ship recycling as steel prices across the Indian subcontinent ease by about 5 dollars per ton, currencies in India, Bangladesh and Turkey weaken against the US dollar and the Baltic Dry Index slips around 3 percent while oil holds near 59 dollars 70 cents a barrel. Bangladesh keeps its position at the top of the price rankings, India remains at the bottom with very limited new arrivals, and Pakistan builds on the recent approval of its first Hong Kong Convention compliant yard in Gadani. Turkey records one of the few bright spots with local steel prices up about 10 dollars per ton and slightly higher offers, although Lira weakness continues to challenge buyers. The episode highlights how tight supply, currency moves and growing HKC capacity are shaping end of year sentiment and setting expectations for the 2026 recycling market.

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GMS Weekly Podcast | Week 49 Ship Recycling Market Update: Global Slowdown, HKC Momentum, and Year-End Trends

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This episode was published on December 8, 2025.

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