bluVerve strives to bring you the most relevant information at your fingertips, be it your own company data or general market reports.
Take a look below at our Demolition Weekly Market Reports for Week 30 of 2019 (listed alphabetically):
Week 30 2019 (22nd July – 26th July)
DEMOLITION QUICK UPDATE
The previous week maintained its slow pace as there is nothing positive in the close horizon for the Sub-Cont. recycling markets. In Bangladesh the BSBA hasn’t yet accomplished anything, and with the upcoming Eid holidays, movement is at a minimum level with no new beachings as of yet. India has faced a great hit in its local steel prices and its only hope is its green recycling facilities. Finally, the only market that now has a shot at its competitors is Pakistan since other recyclers have been hit by local…..
Source: Athenian ShipBrokers
26th July 2018 – Volume 203 Issue 888 – Week 30
Markets across the subcontinent continue to endure a rough ride over the summer months and there is virtually no good news over the recent past that would bring optimism back to the industry (at least until the monsoon’s start winding down).
Steel plate prices in India have declined by about USD 50/LDT over the course of July, leaving vessel prices positioned well below the USD 400/LDT mark – a precarious position for those Cash Buyers who are still stuck with (expensive) tonnage to sell. Bangladesh remains in the mire as well, with still no positive news forthcoming regarding the reversal of the 10% VAT imposed over the recent budget (something that has seen prices adjust downward by about USD 30/LDT). Most yards are still stuffed with tonnage and it may take several months over the traditionally quieter monsoon period, for vessels to be digested and local demand to return.
Pakistan too has remained out of the buying, with cheap Iranian billet imports that are still putting pressure on local prices and a recent currency collapse, both of which have conspired to see very few vessels being committed to Gadani Buyers for nearly a year. Finally, the Turkish market continues to trudge along (unchanged), with a minor improvement reported in local steel prices, whilst the Lira continues to linger around the TRY 5.6X mark.
Source: GMS Leadership