Inside the Markets - Hamburg Edition: German Shipowners Trade Hard, Recycle Later

Northern Europe’s shipping heartbeat is pulsing with profit. In this Hamburg special of Inside the Markets from GMS Podcasts, host Jamie speaks with Henning Prinzen, Head of the GMS Hamburg Office, to examine how German shipowners are prioritizing trading income over ship recycling.

Henning explains how high charter rates and steady freight earnings across bulkers, tankers and container feeders keep ships active while recycling yards wait. With the Baltic Dry Index up 7.4 percent, crude holding near USD 62.74 per barrel and strong time charter demand, owners are locking in long term charters, forward deliveries and sale and leaseback deals to capture today’s cash flows.

Key Discussion Points

• Trading vs. Recycling: why strong earnings mean no tankers or bulkers heading for recycling in the near term

• Market Numbers: steel plate prices at India USD 448 per ton, Pakistan USD 625, Bangladesh USD 519, with the Indian rupee in the high 88s per USD and the Pakistan rupee around 284

• Owner Strategy: efficient maintenance, creative financing and forward deals to hedge revenue and extend vessel life

• Future Outlook: what would trigger a sudden shift from trading to recycling and how HKC approved yards in the Indian subcontinent or Turkey fit long term plans

From Hamburg boardrooms to global yards, the message is consistent: earn now, recycle later until freight softens.

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