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Take a look below at our Demolition Weekly Market Reports for Week 01 of 2019 (listed alphabetically):
Week 01 2019 (01st January – 04th January)
DEMOLITION QUICK UPDATE
Last week was a stagnant one, due to celebrations of the New Year with activity remaining at low levels. In India, the volatility of the rupee and steel prices is still continuing, thus resulting to adverse sentiment. In
Bangladesh, political results lead to stability of local fundamentals and further optimism for the future. In Pakistan, fluctuations to steel prices and currency made local players wary. As for China, the beginning of the New Year marks the prohibition of breaking foreign…..
Source: Athenian ShipBrokers
04th January 2018 – Volume 197 Issue 859 – Week 01
NEW YEAR, NEW CHEER!
After a slightly sluggish festive period (in terms of sentiment and pricing) and as the industry head into the New Year, there was brewing optimism for a return to form in the subcontinent ship recycling markets.
Bangladeshi elections have finally concluded (on the 30th of December) and as expected, it was a resounding victory for the ruling party with no change to the regime reported. This in turn (is hoped) will quell some of the ongoing political unrest and uncertainty that have pervaded the country of late.
Pakistan – starved of tonnage – may also come back into the picture as the currency seems to have finally settled and high-rise building projects resume this year, leading to an increased demand for steel products. Having missed out on many of their favored container units of late, India too is likely to get back to the buying as local recyclers shift their focus towards and remain keen to import many of the green and offshore units on offer.
Source: GMS Leadership