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GMS News
Ship Recycling Industry Playing “Musical Chairs”
Indian sub-continent ship recycling markets have been reflecting on what has been escalating on the international stage of late, reports cash buyer GMS. The company notes extremely turbulent effects emanating week after week from these markets — meaning it is becoming increasingly difficult to identify what price can be obtained for which type / LDT of unit and, most importantly, which buyer in which…
Hopes Fade for Bright Start of 2026 for Ship Recyclers
The Baltic Exchange Dry Index halted a nine-session slide to mark a 2.3% U-turn, climbing to 1,567 points, reports cash buyer GMS. This was driven by gains across segments: Capes (up 2.3%), Panamax (up 4.3%), and the smaller segments adding four points by week’s end.“Notably, the overall benchmark index still finished the week down 7.2%. Oil too continued to trip on itself and stayed below the coveted USD 60/barrel mark despite a 0.4% increase, closing the week out at USD 59.44/barrel.“The U.S.
Ship Recycling Market Tense
If 2026 continues as it has started, we are more than likely in for another roller-coaster year full of geopolitical risks, tensions, aggravations, and increasingly frequent shocks that could affect the shipping and ship recycling industries in numerous — and as yet untold — ways, says cash buyer GMS.Markets have reacted to recent Trump-related geopolitical news as they always do i.e. with chaos and volatility.
Mixed Signals for Ship Recycling Industry
Global economies delivered mixed signals as U.S. stocks maintained a steady decline over the tail-end of December, reports cash buyer GMS. China’s industrial growth slowed, and EU stocks reportedly surged.“The U.S. Dollar started the year off-balance against ship recycling currencies, shipowners started to rejoice as the Baltic Exchange Dry Index showed signs of a resurgence, oil continued to slip on its way to USD 60/barrel even though it climbed to USD 57.17/barrel this week…
Inflation and Steel Prices Impact Ship Recycling Markets
“Inflation is on the rise again, plate prices are collapsing in the wrong places, all while the U.S. dollar continues to rummage through the wreckage of 2025 for whatever it can suck out of ship-recycling currencies and both freight rates and oil futures tumble in unison,” reports cash buyer GMS, “just within the span of week 50.”The Baltic Exchange Dry Index reportedly fell nearly 4%, down to its lowest level in nearly a month, dragged by capes that fell 5.6%.
Another Low Supply Week for Ship Recyclers
December has brought with it a declining Baltic Exchange, reports cash buyer GMS. This saw the Dry Index fall by about 3%, this week, dragged down by mounting pressure across all segments that saw capes slipping 4.4%, panamax dropping 1.4%, and the smaller segments shedding five basis points, all while oil barely moved the needle as it closed another week at region USD 59.70/barrel (expected to breach…
First Pakistan Recycling Yard Becomes Hong Kong Convention Compliant
Prime Green Recyclers has become the first ship recycling yard in Pakistan to achieve full compliance with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships.Bureau Veritas issued the Statement of Compliance on November 24.Prime Green Recyclers’ certification marks a new stage for Pakistan’s recycling capacity. The country has long been one of the world’s major destinations for end-of-life tonnage…
Oil Shock for Ship Recyclers
This has been a disastrous week for nearly all the key indicators tracked by cash buyer GMS, says the company, including the state of oil futures, freight rates, local steel plate prices, and disastrous currency devaluations (especially in India).“To start, oil found itself slipping rather shockingly as it fell to USD 57.68/barrel – a total drop of over 6% in the last month and over 16% lower than the same time last year," says GMS. “At the same time, governments in the U.S.
Recycling Market Increasingly Precarious
Ship recycling market economies face an increasingly precariously future, reports cash buyer GMS.“While the Baltic Exchange Dry Index reported gains once again this week on the back of virtually all inclusive sub-sectors reporting improvements of their own through the week, oil futures on the other hand seem to be taking a beating after levels clocked the week out at USD 59.50/barrel after Ukraine…
Steel Prices Down as Ship Recycling Slows
Economic turmoil is causing inflation to keep rising at key ship recycling destinations, says cash buyer GMS. Global steel prices are collapsing, currencies are devaluing, and a disjointed ratio of trading units versus recycling volumes, are all wrapped up in a 2025 burrito of unnecessary bombastic.“As sanctions and bans increasingly strike at the world’s trading units and the balance of the legally trading group seems increasingly burdened with shouldering the load of missing tonnage…
Ship Recycling Remains Sluggish
The Baltic Exchange’s Dry Index declined in October, and the slowdown is increasingly presenting itself via tonnages of various sizes and types across the Indian sub-continent ship recycling landscape, says cash buyer GMS.This is especially the case in India where despite the lowest prices in the region, Alang continues to report an eye-popping number of occasional arrivals. And yet, the glut of tonnage…
Ship Recycling Market “Woefully Slow”
Global markets seemed to take a breather this week as things turned slow across the board once again, not only on the shipping side but even the ship recycling side of things, reports cash buyer GMS.Currencies fluctuated in moderate tandem, local steel plate prices made surprisingly marginal moves, all while the Baltic Exchange Dry Index (BDI) slipped and oil steadied itself. The BDI reported a declining week that shaved off about 3.2% last week…
Ship Recyclers Face Unpredictable Steel Plate Prices
In ship recycling, where even a day can make an incredible difference (the summer of circa 2006 when India lost about USD 100/Ton overnight due to a collapse in steel prices, for example), a week can certainly make a dramatic difference, says cash buyer GMS, especially given the turbulent nature of current times that global markets are enduring.“Going through the checklist of key economic factors affecting the state of global ship recycling today…
Ship Recycling Fundamentals Down
As we enter October, global markets are ready registering spooks across the board, marking a drastic debut into Week 41, reports cash buyer GMS.Inflation climbed in both Turkey and Pakistan through September, likely laying out the groundwork for a spooky October at both locations. Currencies too are back on the “scary charts.” Oil, on the other hand, tripped towards $60 / barrel and is nearly 20% lower than the same time last year as capes…
Ship Recycling Market Faces Disconnect
“Global markets seem to be going through quite a disconnect of late as on the one hand, the last couple of months has seen a multitude of directions that stock markets, trading markets, charter rates, financial and FX markets, and even the ship recycling markets have been greeted by versions of unfolding realities that seem to conflict with what’s been transpiring at the bidding tables of late,” says…
Ship Recycling Market Stabilizes
After what seemed like months of unstoppable volatility, a modicum of stability seemed to enter the global trading markets this week as oil climbed marginally (0.17%) before the week ended, yet this remains a near 1.4% drop just this month and a 10.8% overall decline from the same time last year, reports cash buyer GMS.“On the flip side, trading markets continue to edge on as they surged another 3.6% this week…
Tonnage Finally Finds its Way to Indian Sub-Continent Recyclers
Escalatory and retaliatory moves kept key trading routes and markets on edge as freight rates propped up this week, with the Baltic Exchange Dry Index reporting a whopping 7.4% overall increase, reports cash buyer GMS.Capesize, Panamax, and Supramax indices all firmed in unison to the tune of 1.0%, 0.4%, and 0.5% respectively. As trading rates jumped, so did crude oil—albeit marginally—ending the week at USD 62.74/barrel (vs.
Ship Recyclers "Treading Water"
The Indian sub-continent ship recycling markets continues its southward trajectory with every passing week as the final quarter of the year gradually approaches, reports cash buyer GMS.“Ongoing currency woes (especially those recently spiraling out of control in India), tariff shocks across the sub-continent, faltering steel dynamics, suffocated offerings on the back of a now sagging demand have come…
Quiet Time for Ship Recyclers
As August winds down, global markets gave us another week of shy half-gestures and newlywed hesitant moves, says cash buyer GMS, all while confidently pretending they were marching somewhere important.“Oil traders kept one eye on inventories, the other on geopolitics, and both cockeyed on the clock as WTI closed at USD 64/barrel with Brent just above USD 68—moves so small they looked like rounding errors. Yet the steady draw of about 3 million barrels from U.S.
Recyclers Wary Despite Recent Influx of Tonnage
Losses in various individual sectors along the entire dry bulk range across the recent past saw the overall benchmark index lose about 5% of its overall value, which would explain the recent (and ongoing) influx of tonnage into the West Coast Indian and even Pakistani waterfronts spanning several weeks now, reports cash buyer GMS.“And despite recent deliveries of a wide collection of sizes and types of vessels (especially in Alang)…
