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Take a look below at our Demolition Weekly Market Reports for Week 42 (listed alphabetically):
Week 42 2015 (11th October – 15th October)
DEMOLITION QUICK UPDATE
Another week passed with uncertainty being the prevailing sentiment in the sub-continent markets. The usually leading Indian buyers have been hit hard by the declining demand, while reports of financing difficulties and yard closures have become regular, with reportedly only a small fraction of the total yards in Alang currently in a position to participate in the market. Bangladeshi Buyers appeared once more to be the most active, having also secured a large ldt bulker at a price in excess of what fundamentals at the shorefront would justify, with rumours speaking of an end buyer biding at such levels in order not lose an available letter of credit. Pakistani…..
Source: Athenian ShipBrokers
16th October – Volume 158 Issue 694 – Week 42
As more yards fall foul of the banks in India, the anticipated fourth-quarter price improvement appears increasingly unlikely.
Currently, only about 20-25 yards are operational in India following the foreclosure of a large number of plots, some owned even by well renowned and major local players, as prices have slumped by almost 50% over this past year.
The import of cheap Chinese billets continues to plague the industry and will remain a prevalent factor in the new realities of this beleaguered sector.
Competing sub-continent markets in Bangladesh and Pakistan have likewise been affected and continue to closely monitor the (primarily) negative developments…..
Source: GMS Leadership