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Take a look below at our Demolition Weekly Market Reports for Week 32 (listed alphabetically):
Week 33 2015 (10th August – 14th August)
DEMOLITION QUICK UPDATE
This summer season is anything but quiet for the sub-continent recycling markets with last week providing further unsettling developments. Bangladeshi buyers have established a cartel in the hope to control prices for vessels on offer at their shores, i.e. pricing for any tonnage for sale at Chittagong will be decided/approved by the committee’s five-member board. The benchmark market of India suffered another week of disappointing currency devaluation with the Rupee trading over 65 against the USD, annulling any confidence that had been gained during the previous week and pushing buyers away from offering for the few vessels available. Pakistani…..
Source: Athenian ShipBrokers
August 14th 2015 – Volume 156, Issue 685 – Week 33
BACK IN THE BALANCE!
Another alarming week of macro-economic factors put the Indian sub-continent recycling markets on alert for fears of further falls yet.
The Chinese government Yuan devaluation by 2% sent the Indian Rupee spiraling in excess of Rs. 65 against the U.S. Dollar, striking its lowest point in the last two years.
With the Pakistan market keeping close eyes on Indian fundamentals, the knock on effects were felt in the sentiments and pricing of competing markets…….
Source: GMS Leadership