Ship Recycling Fundamentals Down

As we enter October, global markets are ready registering spooks across the board, marking a drastic debut into Week 41, reports cash buyer GMS.

Inflation climbed in both Turkey and Pakistan through September, likely laying out the groundwork for a spooky October at both locations. 

Currencies too are back on the “scary charts.” Oil, on the other hand, tripped towards $60 / barrel and is nearly 20% lower than the same time last year as capes, panamax and even supramax indices saw the lower side of last week, says GMS.

“Indian sub-continent ship recycling destinations did not escape the incoming dark of the month as nearly all markets reported dithering numbers of arrivals at respective anchorages while recyclers continue to look for a ‘lift me’ moment, after what has been an unexpectedly woeful 2025 of declining fundamentals, supply, prices, and sentiment. Indeed, this has turned out to be one of the slowest years for ship recycling in over a decade – and it’s still not over!”

GMS demo rankings / pricing for week 40 of 2025 are: