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Demolition report dated 29 May 2020

02 June 2020

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.

Chartering fraud

29 May 2020

BIMCO has warned against situations where fake “brokers” will attempt to trick owners into fixtures where there is no cargo available. The con also involves a request for advance funds to be remitted to an account allegedly belonging to the “agents” at the loading port.

Demolition report dated 22 May 2020

25 May 2020

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.

Demolition report dated 15 May 2020

18 May 2020

Whilst the various recycling destinations remain far from fully open today, the anticipation of subcontinent markets opening within the month/before June has once again motivated Cash Buyers to take speculative positions and commit vessels at some firmer levels over the recent weeks. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 8 May 2020

11 May 2020

There has been a slow and cautious easing of restrictions in ship recycling sectors across the Indian subcontinent markets as certain yards get back to work in Alang and a few vessels waiting for special permissions in Bangladesh have finally been allowed to beach this week. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 1 May 2020

04 May 2020

This week, as lockdowns were once again extended at all subcontinent locations until May 15/16th, the toll on frustrated Ship Owners and Cash Buyers has started to tell. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 17 April 2020

20 April 2020

Lockdown restrictions continue across the subcontinent markets for yet another week, as the world battles to bring the Coronavirus crisis under control. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 10 April 2020

14 April 2020

With all subcontinent locations still under a strict lockdown and virtually all global ports similarly observing quarantine measures, the deal flow for both trading and recycling markets have expectedly ground to a halt. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 3 April 2020

06 April 2020

All of the major recycling locations remain under lockdown for yet another week as the Coronavirus pandemic spreads across the globe. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.