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Take a look below at our Demolition Weekly Market Reports for Week 40 of 2019 (listed alphabetically):
Week 40 2019 (30th September – 04th October)
DEMOLITION QUICK UPDATE
Signs of recovery have been perceived in most of the Sub-Cont. recycling markets, which in turn have inspired buyers to be on the look for new tonnage. In India, end buyers were looking out for bargains even if local fundamentals maintained their calm, having no luck during this week. In Bangladesh, since the monsoon finished, inventory has started being seen stacking up again and signs of encouragement are apparent. To end, Pakistan once again maintained its wait-and-see strategy to see whether the ban on scrap imports from Iran could…..
Source: Athenian ShipBrokers
04th October 2019 – Volume 206 Issue 898 – Week 40
Green shoots of recovery have been evident in the subcontinent markets over the past week or so – particularly in Bangladesh, where a number of (premium) sales have taken place that breached the USD 400/Ton mark, giving a real sense of encouragement to Ship Owners, Cash Buyers (still with expensive inventory on hand) and End Buyers, who have remained on the sidelines for the most part.
Notwithstanding, there remain very few fresh candidates available for sale, as freight markets push on across all sectors, leaving any available scrap tonnage (especially non-green) heading to Chittagong shores at present.
Overall, India remains the lowest and most unfavorable destination at present, with End Buyers lacking any sort of aggression or interest to purchase, as they have been presenting lowball / opportunistic offers for vessels mooted to be heading their way. As such, it seems unlikely that India will get their hands on fresh units any time soon, with only eight vessels beached over the month of September (including small LDT tugs and supply vessels) – reportedly, the lowest number in almost 10 years!
Source: GMS Leadership