Why Steel Prices Drive Ship Recycling Offers | Steel, Ships & Recycling Values Ep. 1

Steel is one of the most important drivers of ship recycling values, but recycling offers are not based on steel prices alone. In the first episode of Steel, Ships, and Recycling Values, Nayeem Noor, VP - Business Development and Communications at GMS, speaks with Jamie Dalzell, Head of the GMS Singapore Office, about how recyclers assess steel markets when pricing vessels for recycling. The discussion looks at why plate prices matter, how re-rollable steel is valued, and why local demand, financing, currency, inventories, import pressure, and timing risk all influence the final recycling offer. The episode also explains why strong steel prices do not always lead to more vessels being sold for recycling. Freight markets, trading opportunities, seasonal timing, and owner strategy all play an important role in deciding whether a ship actually comes to market. For shipowners, brokers, financiers, traders, and maritime professionals, this episode offers a practical look at how recycling values are formed and why steel remains central to the global ship recycling market. Stay tuned to GMS Podcasts for more episodes of Inside the Markets covering ship recycling trends, trading flows and maritime market intelligence from key recycling and shipping hubs worldwide. Subscribe to the GMS Podcasts and follow GMS on LinkedIn for future updates and discussions.