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Limited economic growth potential and the slow pace of recovery of the global economy is only easing the pain in the global shipping industry to some degree...
Demolition prices have been on the rise since late last year and recently reached the same high levels seen in the beginning of 2012. In two of the major demolition markets, India and Pakistan, the positive development started around October 2013 after a year of more or less status quo. In China, also a large market for demolition, development has been the opposite, with slowly declining prices since the beginning of 2013.
Despite key economic regions’ notable fiscal policies aimed at stimulating growth, there is still no full-blown and self-sustainable economic recovery.
Following five weak months of demand growth (January-May), transported container volumes are finally growing on the Far East to Europe trading lane – as much as 1.9% y-o-y in the first seven months of 2013.
With a sigh of relief, shipping people all over the world received the positive numbers indicating the beginning of the recovery of the European economy.