Despite a frantic start to 2025 that saw a marked return of recycling tonnage at the bidding tables, sale and purchase activity across the global ship recycling spectrum eased further this week
Despite a frantic start to 2025 that saw a marked return of recycling tonnage at the bidding tables, sale and purchase activity across the global ship recycling spectrum eased further this week as Chinese New Year holidays descended upon the world, says cash buyer GMS.
“It is the Year of the Snake, and it is indeed expected to be a far busier one than the preceding years, with record low volumes of supply and an ensuing inertia that eventually led to the shuttering of yards across the major global ship recycling destinations in 2024.”
Should supply become unsustainable, this may apply even further pressure on recycling markets and eventually affect ship owners down the line, who will then have no choice but to bite the bullet of chasing falling prices in markets, says GMS.
So far, India and Bangladesh have shouldered the increasing number of vessels since October 2024, when Pakistani recyclers all but disappeared from the bidding tables on the back of an unfolding domestic financial crises. However, Gadani recyclers are now looking to get back into the game once again, at a time when locally favored dry bulk (Panamax and handy bulkers) vessels and LNG tankers have been
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