The global ship recycling market has witnessed a surge in activity, with local steel prices skyrocketing across destinations in the Indian sub-continent. 7% to a two-week low, ship-recycling yards have seen an uptick in sales and investments.
S. and Iran, which has alleviated concerns over potential supply disruptions from the Middle East.
2%. In contrast, Turkey bucked the trend, with no significant changes reported in its steel prices.
As we head into February, faint signs of life have started to show at ship-recycling destinations, a welcome respite from an inert start to the year. The shortage of recycling candidates continues to plague the industry, but recent sales of older bulkers and LNGs have provided some relief.
Tankers and containers have largely been absent from the market in recent years, which may contribute to the relative calm in ship-recycling yards. However, experts predict that 2026 will be another quiet year for the industry, with geopolitical shocks expected to keep trading markets propped up.
The ongoing uncertainty has led to a rollercoaster of emotions in the global marketplace, but ship-recycling yards are cautiously optimistic about the future.
The recent surge in ship recycling activity is a positive sign for the industry, which has been plagued by supply chain disruptions and market volatility. However, the ongoing geopolitical tensions and uncertainty will likely continue to impact the market, making it challenging for investors and traders to make informed decisions.
