Best Oasis Weekly Recycling Market Report, 17 July 2026

The Best Oasis Weekly Recycling Market Report dated 17 July 2026 highlights a significant strengthening of the Indian ship recycling market. Driven by a persistent scarcity of steel plates and sluggish cutting activity across major yards, the sector is experiencing heightened demand for tonnage. Several vessels are currently being evaluated for green recycling, as Best Oasis Limited notes that limited availability is pushing prices upward. This trend reflects broader volatility in global scrap steel markets impacting major ship-breaking hubs like Alang.

Ship recycling operations must strictly adhere to the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, 2009, specifically regarding the Inventory of Hazardous Materials (IHM). Compliance with IMO Resolution MEPC.210(63) remains critical for vessels entering recycling facilities to ensure environmental safety and worker protection. Furthermore, adherence to MARPOL Annex I and VI is mandatory during the decommissioning phase. Compliance departments must ensure all documentation, including the Ship Recycling Plan, is verified before final delivery to avoid legal liabilities and port state control detentions.

Chief engineers and second engineers must prioritize the systematic removal and documentation of hazardous materials before the vessel reaches the recycling yard. These officers are responsible for ensuring that all engine room systems are purged of residual oils and chemicals in accordance with environmental protocols. Accurate record-keeping during the final voyage is essential to prevent costly delays and ensure the vessel meets the stringent safety standards required for sustainable ship recycling processes in India.