The ship recycling market is still in bearish mode, despite the fact that cash buyers are looking for more demo candidates. In its latest weekly report, Best Oasis (www.best-oasis.com), the world’s leading cash buyer of ships, said that “the ship recycling markets across India, Bangladesh, Pakistan, and Turkiye are currently navigating through varying degrees of stagnation and cautious trading. In India, the market is experiencing a downturn with a significant drop in demand for vessels and scrap materials, signaling a market stagnation. Bangladesh’s market mirrors last week’s cautious sentiment, with low transaction volumes and a scarcity of deals, as recyclers struggle to find vessels at desired price points, and owners await higher offers.
