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Take a look below at our Demolition Weekly Market Reports for Week 34 (listed alphabetically):
Week 34 2015 (17th August – 21st August)
DEMOLITION QUICK UPDATE
Buyers in the Indian market were more active throughout last week despite the continuous currency woes, with one capesize bulk carrier reportedly fixed for recycling at Alang. Sentiment remained cautious; however both buyers and sellers appear to slowly come to terms with the new market realities, although market participants expect the end of the monsoon season for a signal on the direction the market will take. The Bangladeshi market was essentially absent as the establishment of a local cartel reported last week has kept prices on offer at a minimum. Pakistani buyers on the other hand appeared eager to follow on their Indian counterparts’ footsteps, showing a slight…..
Source: Athenian ShipBrokers
August 21st 2015 – Volume 156, Issue 686 – Week 34
As the reality of the most recent market declines becomes unmistakable – with difficult deliveries and tougher resale efforts for vessels arriving Indian sub-continent shores – we take a look at some of the ongoing struggles that cash buyers (and many owners) have faced in a market that has almost HALVED in value in less than a year!
From the heady days of USD 500/LDT and above in the second and third quarters of 2014, to the abysmal lows now faced in all international ship-recycling markets, it has truly been a
shocking year of declines and falls for all concerned.
The formation of the Bangladeshi cartel over the past few weeks has seen prices quoted (on standard dry vessels) plummet as low as USD 250/LDT, in a move which will see Chittagong end buyers certainly starved of tonnage……
Source: GMS Leadership