{
  "id": 14297331,
  "title": "Middle East conflict delivers double blow to ship recycling markets, warns Wirana",
  "url": "https://urgent.news/2026/10/13/middle-east-conflict-delivers-double-blow-to-ship-recycling-markets",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-13T21:00:53.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/middle-east-conflict-delivers-double-blow-to-ship-recycling-markets-warns-wirana/"
  },
  "original_language": "en",
  "account": "Tensions in the Middle East are placing significant strain on the global ship recycling industry, according to Wirana Shipping, a leading buyer of vessels. The conflict is exacerbating an already difficult commercial environment for recyclers as freight markets remain robust, discouraging shipowners from sending vessels to recycling yards.\n\nThe industry faces a double challenge: restricted supply of vessels for recycling due to the strong freight markets, and weakening demand for recycled steel in major recycling destinations, particularly Pakistan and Bangladesh. These destinations have not seen a recovery in steel demand following the end of the rainy season, a period that typically stimulates construction activity and steel consumption.\n\nWirana Shipping's CEO, Rakesh Khetan, attributes this slowdown to the Middle East conflict contributing to inflationary pressures and economic uncertainty. Despite these factors, ship recyclers are struggling to secure sufficient vessels while also facing weak demand for the steel recovered from those vessels.\n\nDespite the weakening steel markets, recycler offers have remained relatively unchanged across the major recycling destinations, even as domestic steel and scrap prices have weakened in Pakistan and India. However, improved local steel demand could alleviate some of the pressure on recyclers.",
  "summary": "Middle East tensions are placing growing pressure on the global ship recycling industry, with strong freight markets restricting the supply of vessels for recycling while inflation and slowing economic activity weaken demand for recycled steel, according to Wirana Shipping. The leading cash buyer of vessels has warned that ship recyclers are facing an increasingly difficult ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
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        "url": "https://urgent.news/2026/10/12/oil-advances-on-threats-to-supply-from-russia-to-middle-east",
        "published": "2026-10-12T17:00:22.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Oil advances on threats to supply from Russia to Middle East",
        "url": "https://urgent.news/2026/10/12/oil-advances-on-threats-to-supply-from-russia-to-middle-east-14056112",
        "published": "2026-10-12T22:09:32.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Gold slips near $4,160 as Middle East tensions fuel rate-hike concerns",
        "url": "https://urgent.news/2026/10/13/gold-slips-near-4-160-as-middle-east-tensions-fuel-rate-hike-concerns",
        "published": "2026-10-13T01:20:39.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Oil edges lower after rising on expanding Middle East conflict",
        "url": "https://urgent.news/2026/10/13/oil-edges-lower-after-rising-on-expanding-middle-east-conflict",
        "published": "2026-10-13T01:30:00.000Z"
      },
      {
        "outlet": "Moneyweb",
        "title": "Oil edges lower after rising on expanding Middle East conflict",
        "url": "https://urgent.news/2026/10/13/oil-edges-lower-after-rising-on-expanding-middle-east-conflict-14127072",
        "published": "2026-10-13T05:00:30.000Z"
      },
      {
        "outlet": "Hellenic Shipping News",
        "title": "The Commodities Feed: Middle East conflict keeps oil well supported",
        "url": "https://urgent.news/2026/10/13/the-commodities-feed-middle-east-conflict-keeps-oil-well-supported",
        "published": "2026-10-13T10:00:33.000Z"
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      {
        "outlet": "CNBC",
        "title": "J&J beats earnings estimates; Middle East conflict weighs on medical-device sales",
        "url": "https://urgent.news/2026/10/13/j-j-beats-earnings-estimates-middle-east-conflict-weighs-on-medical",
        "published": "2026-10-13T10:52:05.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}