January 2026 joins the pages of history as being part of the ongoing misery for the global ship recycling world, but there were noteworthy surges to report this week, saysreports cash buyer
January 2026 joins the pages of history as being part of the ongoing misery for the global ship recycling world, but there were noteworthy surges to report this week, saysreports cash buyer GMS.
“Across the board, for most of the major fundamentals, except sub-continent steel plate prices that have become the perennial party poopers of the recycling world of late, the momentum was definitely beyond noticeable,” says GMS. “The Baltic Exchange Dry Index, oil futures, and the U.S. Dollar collectively soared this week, creating ripples that would certainly be felt within the next four weeks. While the dry index soared 7.3% on the back of Capes pole-vaulting 12%, Panamaxes tripping up 1.6% in comparison, and Supras having a comparatively minor hiccup gain of 0.5%, oil futures impressively slid past USD 65/barrel and close the week out at USD 65.10 – a near 1% jump from last week.”
And the U.S. Dollar’s performance across the ship recycling markets was a reflection of how volatile Trump has made global financial markets on the back of further tariff threats against Canada, nation states in Europe including France and Denmark, and even striking into the hearts of global ship recycling markets with Pakistan (surprisingly)
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