Tag: South Asia: Ship recyclers adopt wait-and-see approach amid lack of sales economic headwinds
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South Asia: Ship recyclers adopt wait-and-see approach amid lack of sales, economic headwinds
This week, the ship recycling markets in India, Pakistan, and Bangladesh faced significant challenges and market participants adopted a wait-and-see approach. In India, post-election uncertainty and pre-Budget concerns led to cautious bidding in Alang, with falling steel plate prices and a weak rupee contributed to the lack of sales. Pakistan has been hit with new…