The scarcity of available vessels continued to impact ship recycling markets this past week. In its latest weekly report, Best Oasis, a leading global cash buyer of ships, highlighted challenges across four key recycling destinations. India's market is still contending with monsoon-related disruptions, with no immediate relief anticipated as recyclers await the budget announcement. Bangladesh experienced no improvement, with persistent issues such as Letter of Credit difficulties and protest-related unrest worsening the situation. Pakistan's market is dormant, dependent on increased scrap imports due to unviable vessel prices. Meanwhile, Turkiye's market remained stable but faced a low supply of ships, mirroring trends in the subcontinent. A delegation from the European Parliament is slated to visit Alang in January/February 2025 to audit ship recycling yards, including Priya Blue, according to an official letter from GMB. This visit is part of broader efforts to ensure adherence to international environmental and safety standards, with the delegation intending to evaluate operational practices, working conditions, and environmental impact. A new agreement, awaiting formal adoption, will permit EU-flagged ships operating outside EU waters to be recycled at non-OECD yards featured on the EU-approved list, provided these yards meet EU List criteria. This development is expected to offer Indian ship recycling yards an opportunity...