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Take a look below at our Demolition Weekly Market Reports for Week 29 of 2019 (listed alphabetically):
Week 29 2019 (15th July – 19th July)
DEMOLITION QUICK UPDATE
Another week has passed with no signs of betterment from the Sub-Cont recycling markets. Bangladesh’s plots remained busy in order to process already concluded tonnage whereas their BSBA still tries to overturn the recently imposed budget. India has also taken a hit since steel plate prices kept on collapsing therefore keeping the recycling market idle. Finally, the market in Pakistan once again remained unsatisfactory since steel imports are available at lower prices, below local steel…..
Source: Athenian ShipBrokers
19th July 2018 – Volume 203 Issue 887 – Week 29
MID YEAR SLUMP!
The mid-year slump witnessed across all recycling locations has shown no signs of abating, with another poor showing (especially from the subcontinent markets) as offers on units declined across the board on the back of weakening steel plate prices, with India taking the biggest hit once again.
Bangladesh remains bloated with an array of expensive & large LDT vessels beached during the first half of the year and it is expected to take at least another month or so, before demand and pricing starts to return.
Chattogram Buyers, represented by the powerful BSBA lobby, are also in the midst of challenging key terms of the recent budget, which has seen a 10% increase in VAT. However, the outcome of their efforts may only become clearer over the next few weeks. In the meantime, any open Buyers (assuming they can open L/Cs, which is reportedly becoming increasingly difficult) are attempting to secure market vessels on the cheap.
Source: GMS Leadership