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Take a look below at our Demolition Weekly Market Reports for Week 47 (listed alphabetically):
Week 47 2016 (21st November – 25th November)
DEMOLITION QUICK UPDATE
Situation in the sub-continent remained unchanged during last week, with buyers closely observing the developments for any sign of reversal. India remained in the grip of uncertainty as the governmental plan to remove certain denominations of bank notes from circulation was in full swing, creating a shortage of cash in the market and huge queues outside banks. In Pakistan, the investigations on the tragic accident aboard a tanker earlier this month were ongoing, with authorities…..
Source: Athenian ShipBrokers
29 November 2016 (Week 47)
Has Christmas started early this year? It has been a frustrating market to generate business previous week with India and Pakistan still at a standstill while they take their time to fix their domestic issues such as the currency issue in India, which is now hitting the industry hard due to the lack of re-sale of inventories from yards (lack of cash flow), which is now giving the impression that the breakers for the time being from Alang are not willing to offer for any available…..
Source: Clarksons Platou
25th November 2016 – Volume 171 Issue 751 – Week 48
TRIALS & TRIBULATIONS!
The tribulations of the beleaguered Indian sub-continent ship-recycling sector continued this week as India counts the cost of the crackdown on black market money and Pakistan remains officially closed after the worst accident recorded in their ship-recycling history, both of which have left the selective Bangladeshi market as the only open and (not entirely) viable recycling destination at present.
As we hurtle towards the end of the year, the number of available candidates shows no signs of slowing, particularly Panamax-sized container vessels that seem to get progressively younger with each deal. As such, the world witnessed the sale of a 7 year old ship this…..
Source: GMS Leadership