GMS Podcasts

GMS Weekly Podcast | Week 33 Recap: Ship Recycling Slowdown, India Stability, Pakistan DASR Impact, Bangladesh Steel Crash

In this Week 33 edition of the GMS Weekly Podcast, we cover the latest developments in the global ship recycling markets, with detailed updates for India, Pakistan, Bangladesh, and Turkey. This week’s theme - Time Flies - highlights slowing supply, uncertain pricing, and shifting regional dynamics.

Global Overview:

• Trump–Putin meeting in Alaska keeps oil markets on edge.

• Oil slipped 2% to USD 62.80/barrel.

• Baltic Dry Index rose 0.25%, now over 7% higher year-to-date.

• Vessel supply remains thin; tonnage inflows likened to a “band-aid” for a long-term shortage.

• Focus shifts to HKC compliance and facility upgrades amid ongoing regulatory challenges.

Bangladesh:

• Market stuck in a summer slumper.

• Five vessels totaling 52,000 LDT arrived, including a 21,000-ton bulker.

• Steel plate prices collapsed USD 9/Ton to USD 540 as mills import cheaper feedstock.

• Taka stabilized at 121.35 with central bank support.

• Inflation rising again, elections not until February 2026. Market remains weak for smaller units.

India:

• Sanction Caution as authorities arrested sanctioned vessels arriving at Alang.

• Despite this, India remains the most stable and HKC-compliant destination, attracting blue-chip owners.

• Over 81,000 LDT at anchorage this week, including another cape and a tanker.

• Rupee firmed slightly to 87.53.

• Inflation eased to 1.55%, and S&P upgraded India’s credit rating to ‘BBB’ - boosting confidence.

Pakistan:

• DASR Dominates - provisional certificates keep Gadani active.

• Four ships totaling 16,000 LDT arrived, including a woodchip carrier.

• Steel plate prices surged to nearly USD 622/ton, the highest in the region.

• Rupee eased to 283.55.

• Pakistan now the best-priced market, especially for dry bulk units and mid-sized vessels.

Turkey:

• Lira slipped again to 40.90 against the U.S. dollar.

• Inflation fell sharply to 33.5% from 61.8% last year, but Aliaga’s yards remain quiet with no new arrivals.

The GMS Weekly remains the definitive source for ship demolition pricing, steel plate trends, HKC compliance updates, and port-by-port activity across the Indian subcontinent. Trusted by ship owners, cash buyers, recyclers, traders, and analysts worldwide.

 

Subscribe to the full GMS Weekly for complete demo pricing, delivery schedules, and tonnage intelligence: https://www.gmsinc.net/get-in-touch?#SubscribeToGMS

GMS Mobile App & Social Links:

• GMS Mobile App: https://onelink.to/gms-app

• LinkedIn: https://www.linkedin.com/company/gms-leadership

• X (Twitter): https://x.com/GMS_Leadership

• Instagram: https://www.instagram.com/gms_leadership

• Facebook: https://www.facebook.com/gmsleadership/

Inside the Markets: Japan – HKC readiness, IHM compliance, and ship recycling outlook

In this episode of the Inside the Markets series from GMS Podcasts, we focus on Japan, a shipping market known for its steady approach, long-term relationships, and carefully planned fleet strategies.

Jamie Dalzell, Head of the GMS Singapore Office, speaks with Amit Malhotra, Head of the GMS Japan Office, about how Japanese shipowners are responding to the Hong Kong Convention (HKC), their plans for Inventory of Hazardous Materials (IHM) compliance, and the factors shaping future recycling volumes.

The discussion covers:

• How HKC enforcement is influencing Japanese owners’ compliance timelines

• IHM preparation requirements, costs, and service options

• Yard availability and certification trends in the Indian subcontinent

• Market conditions driving potential recycling candidates, including PCCs, wood chip carriers, and LNG vessels

• How GMS structures flexible and value-driven deals for owners of vintage assets

From shifts in PCC trade patterns to upcoming newbuild deliveries, Amit shares insights on where the next wave of Japanese recycling may come from and how GMS is supporting owners through planning, compliance, and execution. Follow GMS Podcasts for updates from our teams in Japan, Korea, Greece, the Middle East, and other major shipping hubs.

Subscribe to the GMS Podcast and follow GMS on LinkedIn for future updates and discussions.

GMS Weekly - Week 32 Recap: Liberation Day Tariffs, India Sanctions impact, Pakistan tops pricing

This Week 32 GMS Weekly Podcast covers the latest global ship recycling market updates for India, Pakistan, Bangladesh, and Turkey.

• Global overview: Liberation Day tariffs from April are now in effect, impacting India and other key destinations. Oil prices dropped 5% to USD 63.90 per barrel. The Baltic Dry Index rose over 2%, led by a 4.3% Cape index gain. Currency movements were mixed: the U.S. Dollar strengthened against the Indian Rupee, Pakistani Rupee, and Turkish Lira, but weakened against the Bangladeshi Taka and Chinese Yuan.

• India: 50% export tariffs to the U.S. and sanctions linked to Russian trade weigh on sentiment. The Rupee closed at Rs 87.50. Steel prices fluctuated but ended flat. Alang received 6 vessels totaling nearly 57,000 LDT, including large bulk carriers and LNG units. India remains a key HKC-compliant recycling hub.

• Pakistan: Gadani leads regional pricing with steel plate at USD 615/Ton. Provisional DASR certificates allow select yards to bid. A nearly 9,000 LDT woodchip carrier arrived this week. The Rupee eased to PKR 283.60.

• Bangladesh: HKC-certified yards are re-entering the market after completing recent deliveries. Four vessels totaling about 30,000 LDT arrived in Chattogram. The Taka firmed to BDT 121.37.

• Turkey: Lira weakened to TRY 40.76. No new arrivals or market sales reported.

The GMS Weekly provides detailed ship demolition pricing, port-by-port vessel positions, steel plate price trends, and HKC compliance updates. This content is relevant for ship owners, cash buyers, recyclers, traders, and maritime analysts monitoring the Indian sub-continent ship recycling markets.

Subscribe to the full GMS Weekly for complete demo pricing, delivery schedules, and tonnage intelligence: https://www.gmsinc.net/get-in-touch?#SubscribeToGMS

GMS Mobile App & Social Links:

• GMS Mobile App: https://onelink.to/gms-app

• LinkedIn: https://www.linkedin.com/company/gms-leadership

• X (Twitter): https://x.com/GMS_Leadership

• Instagram: https://www.instagram.com/gms_leadership

• Facebook: https://www.facebook.com/gmsleadership/

Inside the Markets: Korea - LNG recycling, HKC compliance and Secondhand trends

In this first episode of the Inside the Markets series from GMS Podcasts, we focus on South Korea, one of Asia’s most data-driven shipping markets. Gyungbae Gil, Head of the GMS Korea Office, shares insights on how Korean shipowners are approaching recycling and acquisitions in today’s firm freight market.

The discussion covers the increasing number of older Korean-owned LNG carriers being sent for recycling, the country’s readiness for Hong Kong Convention compliance, and shifts in secondhand trading patterns. Listeners will gain a clear view of how local market dynamics connect to global ship recycling and sale & purchase activity.

Key points discussed in this episode include:

• Recycling trends in Korea’s LNG sector

• HKC compliance readiness and yard options

• Secondhand market activity and pricing outlook

This episode offers local insight with global market relevance, helping industry players navigate recycling, compliance, and asset sales in one of the world’s key maritime hubs.

This episode offers local insight that supports strategic planning for recycling, fleet renewal, and compliance in one of the world’s key maritime hubs.

Follow GMS Podcasts to hear more from our country heads in Japan, Greece, the Middle East, and other major shipping markets.

 

Subscribe to the GMS Podcast and follow GMS on LinkedIn for future updates and discussions.

 

 

Bangladesh’s HKC Implementation: In Conversation with the Director General of BSRB

In this special episode of the GMS Podcast, we speak with ASM Shafiul Alam Talukder, Director General of the Bangladesh Ship Recycling Board (BSRB). In this podcast, Mr. Talukder offers valuable insight into how Bangladesh is implementing the Hong Kong Convention (HKC) following its entry into force on June 26, 2025.

Dr. Anand Hiremath, CEO of the Sustainable Ship and Offshore Recycling Program (SSORP), hosts this conversation focused on regulatory progress and industry readiness in one of the world’s largest ship recycling hubs.

Key points discussed in this episode include:

• The current status of HKC implementation in Bangladesh

• Inventory of Hazardous Materials (IHM) requirements and enforcement mechanisms

• Rollout of DASR (Document of Authorization to conduct Ship Recycling) and the approval process

• Introduction of a proposed One-Window System for all ship recycling clearances

• Coordination with the Ministry of Industries, Department of Environment, Customs, and other stakeholders

• The roadmap to achieving more than 100 HKC-compliant yards by 2030

• Improvements in hazardous waste infrastructure and TSDF (Treatment, Storage and Disposal Facility) setup

• Health, safety, training, and insurance initiatives for workers

• The role of international support from IMO, JICA, and the Government of Norway

• Regional alignment and knowledge sharing with India, Pakistan, and Turkey

This episode highlights Bangladesh’s efforts to align ship recycling regulations with global standards while enhancing environmental performance and worker safety.

As one of the most significant recycling destinations globally, Bangladesh’s progress is key to the Convention’s success. This episode documents a vital step in making responsible and transparent ship recycling a global norm.

 

Subscribe to the GMS Podcast and follow GMS on LinkedIn for future updates and discussions.

GMS Weekly – Week 31 Recap: Tariff Tensions, LNG Arrivals in India, and Pakistan Leads Pricing

In this Week 31 edition of the GMS Weekly Podcast, we examine the latest market shifts as global tariffs ripple through recycling sentiment. India stays active with steady arrivals of high-value tankers and LNGs. Pakistan leads on pricing and continues to secure dry tonnage. Bangladesh remains quiet, grappling with steel backlogs and regulatory hurdles. Turkey sees no change, with a soft Lira and minimal port activity.

We also track HKC procedural clarity, regional delivery updates, and what market participants can expect through August.

 

We cover:

• India’s Activity: Tankers and LNGs continue arriving at Alang. Despite currency pressure, HKC-certified infrastructure and strong non-ferrous demand keep India in focus.

• Pakistan Leads: Firm pricing and consistent steel fundamentals support new arrivals. The Rupee strengthens and provisional DASR yard upgrades add momentum.

• Bangladesh Slows: Minimal activity at the waterfront. Yard readiness remains mixed, and monsoon delays continue to affect operations.

• Turkey Stalls: The Lira weakens again. No new arrivals or sales reported.

 

Subscribe to GMS Weekly for complete demo pricing, port-by-port vessel positions, and tonnage intelligence: https://www.gmsinc.net/get-in-touch?#SubscribeToGMS

 

GMS Mobile App & Social Links:

GMS Mobile App: https://onelink.to/gms-app
LinkedIn: https://www.linkedin.com/company/gms-leadership
X (Twitter): https://x.com/GMS_Leadership
Instagram: https://www.instagram.com/gms__leadership
Facebook: https://www.facebook.com/gmsleadership/

How SSORP turns HKC Compliance into Action: Insights from India, Bangladesh, and Pakistan

In Episode 6 of the GMS Hong Kong Convention Podcast Series, Ingrid and Henning examine how the Sustainable Ship and Offshore Recycling Program (SSORP) is helping shipowners and ship recycling yards meet regulatory and ESG expectations under the Hong Kong Convention.

This episode explains how SSORP provides a full-cycle approach, from Inventory of Hazardous Materials (IHM) preparation to post-recycling documentation. It also highlights the program’s role in supporting yards across India, Bangladesh, and Pakistan, and the real-world systems that have been developed for compliance, supervision, and transparency.

Key discussion points include:

• The SSORP process, from vessel planning to final reporting

• How SSORP has provided technical assistance to yards seeking Hong Kong Convention Statements of Compliance

• Free safety awareness sessions conducted for over 10,000 yard workers in South Asia

• The importance of trained, on-site supervisors for monitoring dismantling and safety

• SSORP’s role in enabling the issuance of the first International Ready for Recycling Certificate (IRRC) under the new HKC regime

• How owners can meet ESG and investor requirements using verified, structured data from SSORP activities

This conversation is relevant to shipowners, compliance officers, financial institutions, and regulatory stakeholders navigating end-of-life vessel recycling in South Asia.

 

GMS Mobile App: https://onelink.to/gms-app

Linkedin: https://www.linkedin.com/company/gms-leadership

X: https://x.com/GMS_Leadership

Instagram: https://www.instagram.com/gms__leadership

Facebook: https://www.facebook.com/gmsleadership/

GMS Weekly – Week 30 Recap: LNG Momentum in India, Steady Moves in Pakistan, and Challenges in Bangladesh

In this Week 30 edition of the GMS Weekly Podcast, we cover the latest updates in global ship recycling. India takes the lead with a series of large LNG vessel deals, strong yard occupancy, and improving fundamentals. Pakistan continues to secure tonnage, while Bangladesh faces slow approvals and reduced yard activity.

We explore regional shifts, currency fluctuations, delivery timelines, and the broader impact of the Hong Kong Convention on subcontinent recyclers.

We cover:

• India’s Momentum: Two Moss-type LNGs sold for over USD 640 per LDT. Alang receives over 107,000 LDT in one week, driven by non-ferrous-rich tonnage.

• Pakistan Holds Position: Gadani sees en bloc dry bulk acquisitions with bunkers onboard. Local steel prices remain high, and the Rupee shows modest recovery.

• Bangladesh Slows Down: No new arrivals reported. Delays in cutting permissions and weak domestic demand continue to affect sentiment.

• Turkey Remains Quiet: The Lira weakens further. No vessel arrivals, despite falling interest rates and slight economic easing.

Also in this episode:

• Freight market outlook as the Baltic Dry Index shows further gains

• How currency movements are shaping buyer behavior

• What to expect in August as HKC compliance increases across yards

 

Subscribe to GMS Weekly for complete demo pricing, port-by-port vessel positions, and tonnage intelligence: https://www.gmsinc.net/get-in-touch?#SubscribeToGMS

 

GMS Mobile App & Social Links:

GMS Mobile App: https://onelink.to/gms-app
LinkedIn: https://www.linkedin.com/company/gms-leadership
X (Twitter): https://x.com/GMS_Leadership
Instagram: https://www.instagram.com/gms__leadership
Facebook: https://www.facebook.com/gmsleadership/

Hong Kong Convention Series | Episode 5 | Compliance Maze – HKC vs. Basel vs. EU SRR

In Episode 5 of the GMS Hong Kong Convention Podcast Series, Ingrid and Henning unpack the confusion that persists, even after the Hong Kong Convention (HKC) has entered into force.

With overlapping rules from Basel, EUSRR, and flag states, many shipowners are still asking: Can I recycle this vessel safely, without facing legal or regulatory fallout?

Drawing from the GMS HKC Webinar Series, this episode features insights from Sveinung Oftedal, Nikos Mikelis, Anaëlle Boudry, and George Novak, who highlight the regulatory tension, legal risks, and practical workarounds for responsible shipowners.

Learn what really works and what to watch out for when navigating the global compliance maze.

Key Topics Covered:

• Why HKC isn’t enough on its own

• How Basel Convention and EU SRR create overlapping controls

• The role of flag states, port states, and OECD departure points

• What Article 11 means and why harmonization still lags

• How HKC-aligned ship recyclers are being penalized despite compliance

• What shipowners must document to stay legally protected

 

GMS Mobile App: https://onelink.to/gms-app

Linkedin: https://www.linkedin.com/company/gms-leadership

X: https://x.com/GMS_Leadership

Instagram: https://www.instagram.com/gms__leadership

Facebook: https://www.facebook.com/gmsleadership/

GMS Weekly – Week 29 Recap: Slowdown Surprise, LNG Action, and Pakistan Pushes Ahead

In this episode of GMS Weekly, hosts Henning and Ingrid chart another week of volatility in global ship recycling. From rising inflation to stalled tonnage flows, the sector continues to navigate unpredictable waters under pressure from geopolitics, monsoons, and evolving HKC regulations.

We cover:

• Global Headwinds: Inflation ticks up, oil slides, and the Baltic Dry Index hits a 10-month high

• Regional Shake-Up: Pakistan leads pricing tables with new bulkers incoming; India holds firm with 100+ certified yards and fresh LNG tonnage; Bangladesh shows activity but struggles with documentation delays

• Turkey’s Retreat: The Lira freefalls past 40.40 while Aliaga ends the week empty-handed

Also in focus:

• Impact of Red Sea disruptions on container recycling

• Ongoing tariff threats and how they’re reshaping trading behavior

• Delivery delays and buyer sentiment shifts under HKC compliance hurdles

 

Subscribe to GMS Weekly for complete demo pricing, port-by-port vessel positions, and tonnage intelligence: https://www.gmsinc.net/get-in-touch?#SubscribeToGMS

 

GMS Mobile App & Social Links:

GMS Mobile App: https://onelink.to/gms-app
LinkedIn: https://www.linkedin.com/company/gms-leadership
X (Twitter): https://x.com/GMS_Leadership
Instagram: https://www.instagram.com/gms__leadership
Facebook: https://www.facebook.com/gmsleadership/