Demolition Reports – Week 11 (2018)

21 March 2018

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Take a look below at our Demolition Weekly Market Reports for Week 11 of 2018 (listed alphabetically):

 

Athenian Shipbrokers Logo

Athenian Shipbrokers

Week 11 2018 (12th March – 16th March)

DEMOLITION QUICK UPDATE

Demolition markets experienced another week of relatively stable prices. In Bangladesh the positive sentiment persisted, however attention must be paid to expanding inventory. The Indian market had to face another week of uncertainty in fundamentals making local breakers nervous. Pakistani recyclers maintained their positive sentiment, with hopes that a possible acceptance of wet tonnage will assist in improving the market. As for the Far Eastern markets, the prices…..

Source: Athenian ShipBrokers

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GMS Logo

GMS Leadeship

16th March 2018 – Volume 187 Issue 818 – Week 11

NO END IN SIGHT!

Unsurprisingly this week, another four VLCC sales (both market and private) were reported, further adding to the burgeoning volume of large LDT wet units that have been sold through 2018 already – a number that is quickly reaching 20 units to date, with seemingly no end to the supply in sight!

Pakistan has yet to officially open its doors for tankers and this is concerning for those Cash Buyers who have been banking on an imminent Gadani reopening while stacking up on their tanker purchases of late – especially VLCCs, which can block anywhere between USD 16 – USD 20 million on each transaction!

Reportedly, there (still) remains only one final sign-off on the order (in Pakistan) that is required to lift the ban. For now however, the Pakistan Naval Authorities and Maritime Security Agencies will not permit tankers (intended for recycling) to even enter Pakistani waters until all such clearances have been set in place.

Source: GMS Leadership

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