Ship Recycling Market Showing Signs of Weakness

AI Summary

Ship recycling markets showed signs of weakening after a period of rising prices and momentum. India’s market fell sharply in the latest week, with local recycling levels retreating from recent highs.

The ship recycling markets ended a period of strength and upward momentum, with the first signs of weakness last week. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships, said that “the Indian recycling market came down sharply during the week, with local levels retreating significantly from the recent highs, ...