Demolition Reports – Week 20 (2018)

23 May 2018

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Take a look below at our Demolition Weekly Market Reports for Week 20 of 2018 (listed alphabetically):

 

Athenian Shipbrokers Logo

Athenian Shipbrokers

Week 20 2018 (14th May – 18th May)

DEMOLITION QUICK UPDATE

Last week was a silent one as demolition activity seemed to cool down due to the great number of already existing inventory, which keeps recyclers busy enough. The Bangladeshi and Pakistani markets were caught up on the preparations for the religious celebrations. In Bangladesh prices on offer started to drop since the demand for new candidates is drastically educed, meanwhile in Pakistan it seems that end users are reaching their limits in terms of capacity. India remains the most viable solution for green recycling and in accordance with the deteriorating performance…..

Source: Athenian ShipBrokers

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GMS Logo

GMS Leadeship

18th May 2018 – Volume 189 Issue 827 – Week 20

DWINDLING DEMAND!

After a bumper week of sales, things certainly slowed a touch this week with just the one VLCC sale to report, as the number of VLs already committed through 2018 steadily creeps towards 30.

With Bangladesh and Pakistan both entering the Holy month of Ramadan, the upcoming week of Posidonia in Greece, and summer / holiday months approaching, we anticipate a slowdown in supply and overall activity as Ship Owners, Cash Buyers, end Buyers and Brokers become engaged elsewhere. This should give the markets (Bangladesh and Pakistan in particular) a chance to digest the plethora of large LDT tonnage beached during the first half of this year.

Chittagong reached a saturation point last month as rates plummeted down towards the low USD 400s/LDT. As such, Chittagong Recyclers have been inert and uninterested in new tonnage ever since.

Source: GMS Leadership

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