Indian subcontinent ship recycling market hits rare May supply squeeze

AI Summary

The ship recycling market in the Indian subcontinent, particularly in India and Pakistan, has experienced a rare supply squeeze, with minimal activities reported for new recycling candidates. The current scenario has seen a lack of vessels ready for beached recycling, indicating a shift in market dynamics.

The Indian subcontinent (especially India and Pakistan) ship recycling market has entered a rare period of inactivity, with Wirana Shipping’s latest market outlook report showing hardly any new recycling candidates circulated during the week and no vessels currently waiting to be beached in India and just one vessel waiting to be beached in Pakistan. The ...