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Amidst the ongoing slowdown in the supply of tonnage and the onset of the traditionally quieter summer / monsoon months that would certainly help ease off the demand, prices across the sub-continent markets remained steady for another week. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Following the recent drastic falls - which have seen almost USD 100/LDT wiped off prices – the ship recycling industry in the Indian sub-continent seems to be taking a bit of a pause. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Capesize: There was little support to be found for the Capesize market over the last week as dwindling rates and rising bunker prices slashed earnings for owners with the 5TC Weighted Average dropping to $7,390. The weekly dry bulk market report contains a summary of the recent movements in the market, alongside the latest figures for average dry bulk earnings and Baltic Dry Indices.
As sales dry up into sub-continent markets due to firming freight rates and plummeting vessel prices, the industry is (once again and expectedly) entering a lull, especially as the traditionally quieter summer / monsoon months descend. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
It has been another impressive week in the Indian sub-continent ship recycling markets as prices pushed on past USD 600/LDT (especially on certain decent spec vessels) and as the cobwebs from the September sub-continent lull seem to have been well and truly blown away at this time, prices seem likely to push on to their highest levels of the year thus far. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Sub-continent markets continue to fire on during the summer / monsoon months, as firmer steel plate prices and an increasing lack of available tonnage has invariably pushed sub-continent offerings on to previously unthinkable levels. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
With the conclusion of Eid holidays, SNP activity resumed in the sub-continent markets once again, with some continually strong numbers on show, despite declining of steel plate prices by about USD 9/LDT (in India) this week. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
There was a brief bounce in the Indian market following the election victory of the pro-business Mr. Modi, but local steel prices have begun to cool off ever since. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
The traditional year-end exuberance from the subcontinent markets has yet to officially materialize, given the ongoing uncertainty with local fundamentals that has ensured prices and demand remain relatively subdued. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Markets remain positioned some ways away from their recent peak with different factors affecting each location, and this is subsequently pulling prices across the board, lower by the day. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
