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After a wobbly late August that finally saw the recycling markets even off over the last couple of weeks, sub-continent markets (India and Bangladesh) witnessed a noteworthy drop in steel plate prices this week, as local sentiments started to increasingly take a step back, in anticipation of a further decline. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
The latest VLCCs that have been reported as scrapped have joined a small, but up to recently growing number of tankers heading to recycling yards. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Prices across the Indian sub-continent ship recycling markets continue their impressive upward trajectory this week, as end Buyers press on for any available tonnage, at levels well above USD 600/LT LDT, especially in the case of Bangladesh and a now firming Pakistani market. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Far from the traditionally expected slowdown during the monsoon / summer months, subcontinent recycling markets fired on at pace once again this week, and a slowdown in the supply of tonnage of late is likely contributing to some overly aggressive offerings from hungry End Buyers. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
As we close out June and head into peak monsoon season in the sub-continent markets, the recycling markets continue to perform surprisingly well. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
All fiscal budgets in the Indian sub-continent markets have been announced in the past month or so, without any duties / taxes being levied on their respective domestic ship recycling sectors, and this has left all areas positively positioned moving into the summer / monsoon months. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
BIMCO's position on "ship recycling" has been approved by the BIMCO Board of Directors.
In a clear sign of industry support for BIMCO’s initiative to develop a new ship sale and purchase agreement, the organisation has received over 800 individual comments on its consultation draft, which will shape the final version of the agreement.
This week, steel prices in Asian recycling markets (save for India) have shot back up again, as this rollercoaster year continues. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
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