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Take a look below at our Demolition Weekly Market Reports for Week 19 of 2019 (listed alphabetically):
Week 19 2019 (06th May – 10th May)
DEMOLITION QUICK UPDATE
Last week the sub-cont. recycling markets continued their slow decline, as every year during the monsoon season. In Bangladesh, rumours surrounding its new budgets starting in June made recyclers more cautious when concluding tonnage for post-budget implementation dates. India after having some improvements in market fundamentals, once again faced a downturn thus affecting its pricing levels. To end, Pakistan even though it stayed behind competition, falling price levels of…..
Source: Athenian ShipBrokers
10th May 2018 – Volume 201 Issue 877 – Week 19
DECLINE AND FALL!
The first signs of decline have started to set in on the industry, ahead of the traditionally quieter monsoon season that’s just around the corner
For some time now, there has been the lingering anticipation that the Bangladeshi market is due for a period on the sidelines, as a result of over extending themselves on the multitude of high-priced vessels sold for recycling so far this year. The Bangladeshi budget is also due on June 13 th , 2019 with rumors around new duties / taxes on the domestic steel sector making the rounds, which in turn has led to increased nerves and reduced / minimal offerings on any working vessels that may arrive after or close to this date.
On the other side, the Indian market endured another harrowing week with both local steel plate prices and the Indian Rupee registering noteworthy declines over the course of the week, subsequently carving out a new reality on pricing for vessels being negotiated.
Source: GMS Leadership