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Take a look below at our Demolition Weekly Market Reports for Week 34 of 2018 (listed alphabetically):
Week 34 2018 (20th August – 24th August)
DEMOLITION QUICK UPDATE
Improvement of demolition markets in the Sub-Cont continued last week as a couple of reported sales suggested. India’s market was strengthened by the increase in the local steel plate prices which helped prices on offer to increase. In Bangladesh the pressure felt from the Sub.Cont competitors made local players a bit more aggressive, thus solidifying pricing. In the Pakistani market focus is still placed upon existing inventory and when it will start to get processed. Finally Far East demolition had…..
Source: Athenian ShipBrokers
24th August 2018 – Volume 192 Issue 840 – Week 34
SIGNS OF LIFE!
Signs of life finally started to emerge from the subcontinent markets this week as prices in both Bangladesh and India showed marked improvements and cutting permissions on a multitude of tankers beached in Pakistan are finally set to be issued this coming week.
Indeed, local steel plate prices in India have bounced back nearly USD 30/LDT over the last 10 days, making up for some of the dramatic declines (to the tune of about USD 50/LDT) witnessed over July and early August.
Bangladesh too seems to have regained some of its appetite following an incredibly sluggish summer / monsoon period as many of the VLCCs and large LDT tankers delivered during the first half of the year have been / are in the process of being absorbed, with the likelihood that a growing appetite to acquire fresh tonnage could emerge post-Eid holidays.
Source: GMS Leadership