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Take a look below at our Demolition Weekly Market Reports for Week 41 of 2019 (listed alphabetically):
Week 41 2019 (07th October – 11th October)
DEMOLITION QUICK UPDATE
Last week’s signs of improvement quickly became noticed and signals of resistance were noticed in most of the Sub-Cont. recycling markets. In India, only Green recycling had its spotlight, but end buyers remained cautious and were not keen on providing competitive rates. In Bangladesh, buyers focused to fill their plots and now are not willing to provide interesting offers to attract new candidates. Pakistan for one more week maintained its…..
Source: Athenian ShipBrokers
11th October 2019 – Volume 206 Issue 899 – Week 41
After a brief spike in the markets (which saw a few vessels sold at increasingly firm numbers, some of which even crept past the USD 400/LT mark), there now appears to be a resurging resistance from local Recyclers to improve prices any further.
Indeed, India continues its dispiriting downward descent, with very few open and aggressive Buyers and some (frankly insulting) numbers on show for any working units. The Rupee continues to trade nearly in excess of Rs. 71 against the U.S. Dollar once again, whilst local steel plate prices have yet to gain any significant momentum, to make up for the huge losses that saw over USD 70/LT wiped off vessel prices over the summer months.
As it stands, we expect very few vessels to be heading towards a barren and bleak Alang market – particularly as freight rates in nearly all sectors have been pushing on to an impressive degree.
Source: GMS Leadership