Best Oasis Limited's weekly ship recycling market report dated 21 August 2026 indicates that the Indian market remains positive, with buyers continuing to show interest in available recycling tonnage.

The report, published under Hellenic Shipping News' Weekly Demolition Reports series on 22 August 2026, covers the week of 15–21 August 2026 and is available in full as a PDF: Weekly Ship Recycling Report, 15 August – 21 August 2026. The original article is available at Hellenic Shipping News.

Background

Best Oasis Limited is a cash buyer of end-of-life vessels and a widely followed publisher of weekly ship recycling market assessments, with commentary spanning the major demolition markets: India (Alang), Bangladesh (Chattogram), Pakistan (Gadani), and Turkey (Aliaga). Cash buyers act as intermediaries in this trade, purchasing vessels from shipowners and delivering them to yards for dismantling. Demolition is one of the principal routes through which vessels exit the global fleet, so buyer appetite at the major recycling yards is watched closely across the shipping industry.

The South Asian markets in this group — Alang on India's Gujarat coast, Chattogram, and Gadani — together handle the majority of the world's end-of-life tonnage, and Alang is among the largest ship recycling yards in the world by volume. Operations at these beaching yards are also influenced seasonally by the South Asian monsoon, which typically runs from June to September; the week covered by this report falls within that window.

Ship recycling prices in these markets are conventionally quoted in US dollars per light displacement ton (USD/LDT), a measure of a vessel's lightweight that serves as the standard basis for demolition transactions. Steel recovered from scrapped vessels supplies domestic re-rolling mills and steel producers in the recycling countries.

The regulatory framework for the sector is anchored by the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, which entered into force on 26 June 2025 and sets requirements for ship recycling facilities, inventories of hazardous materials, and ship recycling plans. India ratified the Hong Kong Convention in 2019, and yards at Alang have since obtained statements of compliance with the convention's standards. In parallel, the Basel Convention governs transboundary movements of hazardous wastes, which can also apply to end-of-life vessels and their hazardous components, and the EU Ship Recycling Regulation requires large vessels flying the flags of EU member states to be recycled at facilities included on the European List.

Best Oasis's weekly reports track price indications, tonnage availability, and buyer activity across these markets, and the 21 August 2026 edition is attributed to Best Oasis Limited as its source. Subsequent editions in the series provide a running view of how conditions develop across the major recycling markets.

Source: Best Oasis Limited, via Hellenic Shipping News, Weekly Demolition Reports.