bluVerve strives to bring you the most relevant information at your fingertips, be it your own company data or general market reports.
Take a look below at our Demolition Weekly Market Reports for Week 44 of 2019 (listed alphabetically):
Week 44 2019 (28th October – 01st November)
DEMOLITION QUICK UPDATE
The previous week was unpromising in most of the sub-cont recycling markets. During the Diwali holidays, India did not participate in any
new deals. Steel plate prices went down, as a result Bangladeshi cash buyers remained cautious and preferred to work with their current inventory. The situation in Pakistan…..
Source: Athenian ShipBrokers
11th October 2019 – Volume 206 Issue 899 – Week 41
DISTRESSED AND DEPRESSED!
This week, the rot seems to have well and truly set in once again, as all subcontinent markets turned in another negative and lackluster performance, in what has (recently) been turning into an overall woeful fourth quarter of the year. After the constantly declining markets over the summer / monsoon months, many in the industry had been expecting (hoping for) some sort of return to form.
On the contrary, what we have witnessed of late has been nothing but further falls that have capped off an incredibly poor second half to the year, for all subcontinent recycling destinations. Declines nearing USD 100/LDT (and in excess in some cases) have been witnessed across all subcontinent locations, given that the markets had been trading well into the mid-to-high USD 400/LDT early in the year, in what was a stellar and busy start to 2019.
Yet, the strange thing is that trading markets across all sectors (of late) have been performing rather well, and so, coupled with the distressed and depressed recycling markets, very few vessels have been introduced for recycling over the recent past, despite the onset of the new low Sulphur regulations that are due to come into effect from January 1, 2020.
Source: GMS Leadership