A stronger dollar has curbed demand for older ships over the past week, but the overall market is showing mixed performance. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “the Indian ship recycling market witnessed reduced buying interest this week, primarily due to the significant strengthening of the USD, making imports more expensive for local buyers. Market participants remain cautious as the strong dollar continues to weigh on sentiment and purchasing appetite. The DASR (Document of Authorization for Ship Recycling) process remains ongoing, with completion expected within the next two to three months”.

Meanwhile, “the Bangladesh ship recycling market remained firm this week, with healthy demand observed across available tonnage.

Source: Best Oasis

Sentiment has been supported by the evolving political landscape, which has brought a more positive outlook to the market. Overall conditions appear stable; however, there are no major new developments to report at this stage. The Pakistani ship recycling market remained largely unchanged, with no fresh developments compared to previous weeks. Market activity continues to be subdued, with no vessels reportedly offered to the destination. Additionally, the market is not yet fully operational, contributing to the lack of activity and momentum. Finally, the Turkish ship recycling market showed some…