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Take a look below at our Demolition Weekly Market Reports for Week 08 of 2018 (listed alphabetically):
Week 08 2018 (19th February – 23rd February)
DEMOLITION QUICK UPDATE
It was another steady week for the demolition market with sentiment remaining firm as the number of demolition candidates remained low. In India, despite adverse movements of local steel plate prices and currency fluctuations, local buyers’ appetite remained steady. The Bangladeshi market kept its positive attitude with firm prices on offer. In Pakistan, rumours abound for a possible re-opening for wet units, however until that time comes, local buyers are focusing on desirable high ldt dry…..
Source: Athenian ShipBrokers
23rd February 2018 – Volume 186 Issue 815 – Week 06
The supply of tankers for recycling into the sub-continent markets continued at pace, with several more (private) Aframax and Suezmax units and yet another VLCC reportedly sold this week.
The ongoing rumors of an imminent Pakistan market reopening within the next month or so have further intensified over the last week and this has led to some increasingly speculative Cash Buyer purchases – particularly on the VLCC sold this week, which saw some fierce offers / competition, eventually leading to her fixture at a surprisingly firm price.
With several more VLCCs and FSUs due to be introduced for sale for recycling and / or already in the market and ready to receive offers in the coming week(s), there is a danger that the number of unsold units in Cash Buyer hands will firmly outstrip prevailing local demand – especially if the Pakistani market fails to re-open (as it has for over 6 months now).
Source: GMS Leadership