Ship Recycling Looking For a Rebound

AI Summary

The ship recycling market remains cautious amid recent Middle East developments, with price corrections observed in India across all shipping segments. Market sentiment is tempered as stakeholders await clearer momentum for a rebound.

The ship recycling market has mostly remained in “wait and see” mode, after the recent developments in the Middle East. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “market sentiment in India has weakened, with local ship recycling prices correcting across all segments in line with softer ...