The ship recycling market was still subdued during the past week. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the Indian market has softened this week, with sentiment under pressure due to the rising exchange rate and a more cautious economic outlook. Buyers remain less inclined to commit at current levels, as higher day-to-day costs, slower construction activity and weaker steel demand continue to affect overall buying appetite. Specialized vessels are still expected to remain attractive for Indian recyclers, although broader demand is likely to stay selective in the near term”.

Source: Best Oasis

Best Oasis added that, “the Bangladesh market remains broadly similar to last week, with overall sentiment steady but activity slowing due to ongoing rainfall. Sales activity has reduced, while several yards are currently well supplied, making…