Tag: South Asia: Challenging week for ship recycling market amid economic headwinds

The South Asian ship recycling market witnessed a challenging week. In India, Alang’s ship recycling sector struggled significantly in the aftermath of the general elections and the interim Budget for FY24-FY25, which offered little hope for stabilisation. Local steel plate prices have dropped, compounded by typical monsoon season economic shifts and dwindling demand. Pakistan’s Gadani…