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GMS is the world’s leading cash buyer of ships and offshore assets for recycling. We help our clients achieve their residual value expectations and ensure the safe and environmentally sound demolition of their vessels. We offer free training to recycling yard workers in India, Pakistan and Bangladesh through our Sustainable Ship and Offshore Recycling Program. GMS Podcasts channel offers a weekly take on the shipping markets, vessel residual values, and ship recycling.
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In this episode of GMS Weekly, hosts Henning, Ryan, Grace, and Ingrid break down the major market movements in global ship recycling for Week 27 (July 4, 2025). With the Hong Kong Convention now officially in force, South Asia's ship recycling landscape is shifting fast. India holds steady with over 100 HKC-compliant yards, while Bangladesh and Pakistan scramble to upgrade amid declining prices and tighter tonnage supply.
We cover:
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Macroeconomic pressures: oil at USD 66.5/barrel, inflation woes, and a falling Baltic Exchange.
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Subcontinent sentiment: India's predictability, Bangladesh's sub-USD 400/LDT offers, and Pakistan's early upgrade efforts.
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Turkey’s ongoing regulatory red tape and a fire incident dampening its yard activity.
Stay ahead with our analysis of:
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Regional pricing trends
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Compliance dynamics under HKC
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Where to position your vessels next
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