Source: Best Oasis It added that “similarly, in Türkiye, while the market remained stable, import prices saw a decline, adding to the pressure on the local industry. Overall, the global ship recycling sector continues to face a challenging environment marked by weak demand and falling prices. The escalating conflicts in the Middle East could have a significant impact on the global economy, potentially disrupting oil and natural gas markets.
Rising tensions may influence oil prices and create uncertainties in global energy supply chains, with possible broader implications for various sectors. The Middle East, while less dominant in the global gas market, still includes major producers like Qatar and Iran, whose outputs could be compromised by regional instability. Saudi Arabia and the UAE have developed alternative oil shipment routes to reduce dependency on more vulnerable pathways, but these alternatives also face risks of disruption if conflicts intensify”, Best Oasis concluded.
In a separate note, shipbroker Intermodal noted that “the ship demolition market experienced another slow week with limited activity and continued downward pressure in key recycling regions. A combination of weak steel demand, political uncertainty and economic instability kept recyclers cautious, resulting in little change overall. In India, the market remained volatile with recyclers refraining from making any significant moves.
Local steel demand remained low due to the ongoing festive se.
