The port of Chattogram in Bangladesh reached the top of the GMS rankings in week 40 of 2026 with increased activity and demand in the ship recycling market. This shift in market leadership has occurred due to severe limitations in the supply of ships and increasing competition among buyers.
Market Status in Chattogram
Chattogram has been highly active this week, processing a significant volume of commercial ships, including large gas units and tankers. Meanwhile, the port of Gadani in Pakistan has also received and delivered new ships that were secured in the previous buying period. However, the Alang port in India has seen less activity during this local holiday period. This situation indicates that while the workshops are active, current ship owners are not quickly securing future supply.
Changes in Market Leadership
This week, Bangladesh achieved first place in the ship recycling market, surpassing Pakistan. Buyers in Chattogram have reached this position with stronger offers for the limited available ships. In contrast, Pakistan has fallen to second place as its immediate needs have been met by ships secured and delivered in recent months. However, underlying demand in Pakistan remains strong. India has also remained at its usual levels, seeking to find more interest in specialized ship diversity.
It is noteworthy that the change in market leadership has not been due to a sudden increase in ship supply. In fact, buyers are competing more fiercely as supply remains limited. Bangladesh has remained a leader in this market, and scarcity continues to be the main challenge.
