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Take a look below at our Demolition Weekly Market Reports for Week 21 of 2018 (listed alphabetically):
Week 21 2018 (21st May – 25th May)
DEMOLITION QUICK UPDATE
India appeared to lead the market during last week despite the adverse movements of the local currency. Meanwhile, Bangladeshi and Pakistani buyers showed a more restrained stance, likely due to the religious month of Ramadan. With the monsoon season fast approaching it is likely that demand in the sub-continent is entering a slower period, especially since the supply side of tonnage remains dull. Finally, Far Eastern markets maintained price levels on offer, as the import of foreign flagged…..
Source: Athenian ShipBrokers
25th May 2018 – Volume 189 Issue 828 – Week 21
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.
Source: GMS Leadership