Inside the Markets - Greece Edition: Greek Owners Hold Firm as Freight Softens

Greek shipping remains steady while global markets show signs of fatigue. In this Athens edition of Inside the Markets from GMS Podcasts, host Jamie speaks with Ilias Stasinos, Trader at GMS Greece, about how owners are managing the balance between strong freight earnings and weaker recycling prices.

Oil prices have fallen to around 60 dollars per barrel, freight indices have slipped, and steel markets remain uneven across the subcontinent. Despite that, Greek owners continue to keep their ships trading rather than recycling, with many expanding into Russian oil routes to capture stronger earnings.

Key Discussion Points

• Freight and oil softness: how Greek owners are adjusting their trading strategies

• India: active market under currency and steel pressure, with rupee near 88.7 per dollar

• Pakistan: higher plate prices near 620 dollars per ton, but HKC certification still pending

• Bangladesh: limited activity despite 18 HKC-approved yards and more upgrades on the way

• Greece: why owners are focusing on trading opportunities over recycling in Q4

• Market outlook: how geopolitics, currencies, and trade shifts may shape early 2026

From Athens to Alang and Gadani, the signal is clear. Owners are holding on to ships as long as trading income stays ahead of recycling prices, keeping tonnage supply thin as the year closes.

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