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Pakistan has been and continues to surge ahead of its sub-continent competitors in recent weeks, with some astounding numbers being tabled. This week, it was no different with another couple of rather high-priced bulker sales being confirmed to Gadani Buyers. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
All subcontinent markets continue to display signs of positivity this week, as deals of previously concluded units already in Cash Buyer hands were reportedly done at some clearly improving levels into all locations. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
India continued its depressing downward spiral this week, with all market sales into Alang reportedly taking place below the USD 300/LDT mark, all while a resurgent Pakistani and Bangladeshi market managed to pick up the remains of mostly non-green tonnage currently making the rounds. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
All subcontinent locations have enjoyed several weeks of positivity, as sales have and continue to take place at increasingly firm numbers. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Subcontinent markets finally started to display some encouraging signs this week, as positive movements on prices were reported across the board. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
As India starts to recede, perhaps fearful of an influx of tonnage, competing markets in Pakistan and Bangladesh are starting to improve once again. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
With markets slowly starting to open up again, fresh tonnage and unsold vessels in Cash Buyer hands were being proposed into the subcontinent markets this week. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
As the Ramadan period / Eid holidays come to an end and June approaches around the corner, we are gradually starting to have some clarity on the phased and gradual market reopenings as the virus infection rates start to ease across the globe, following extended periods of lockdown at a majority of the countries worldwide. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Despite imminent talks of markets reopening soon, prices have displayed a generally negative spiral in the subcontinent markets this week, with end Buyers lowballing on any available units, including those vessels that are currently stuck at anchorages of the various recycling destinations and thus playing into Recycler's hands. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Geopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand. Tanker shipping looks set to be under pressure for the rest of the year.
