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Take a look below at our Demolition Weekly Market Reports for Week 35 of 2019 (listed alphabetically):
Week 35 2019 (26th August – 30th August)
DEMOLITION QUICK UPDATE
The demolition markets of the Sub-Cont. stayed subdued with prices on offer remaining on the low side and in the same time improving freight rates made recycling an unattractive option for Owners. Bangladesh has still enough tonnage to process, however there were some signs of improvement about concluding fresh units. In India, although market fundamentals kept their disappointing performance, green recycling offered some relief. Finally, in Pakistan activity and sentiment were uninspiring with little…..
Source: Athenian ShipBrokers
30th August 2018 – Volume 204 Issue 893 – Week 35
Prices remain marooned in the mid USD 300s/LDT as a sluggish summer of offers and sentiments in the global ship recycling markets nears an end. Cash Buyers with expensive and large LDT vessels to sell are still hoping for a U-turn in fortunes as the industry enters the 4 th quarter of the year. However, it is unmistakable that the previous pricing realities in the mid USD 400s/LDT from earlier in the year are likely not going to return any time soon.
The only positive is that with freight rates remaining firm, there has been a considerable decline in the supply of potential tonnage (especially as the BDI makes some noteworthy gains this week) and the current pricing trend in the mid USD 300s/LDT has essentially been ineffective in tempting Ship Owners with aging units to sell their ships at this time.
While Bangladeshi steel prices have not suffered a fate similar to their Indian counterparts, their VAT related issues continue to linger, despite the BSBA’s confidence about overturning the ruling that was delivered during their annual budget back in June. Moreover, a healthy amount of previously delivered tonnage remains positioned at local yards, with the constant rains still making it a challenge for local Recyclers to shift product over the summer months.
Source: GMS Leadership