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Take a look below at our Demolition Weekly Market Reports for Week 50 of 2017 (listed alphabetically):
Week 50 2017 (11th December – 15th December)
DEMOLITION QUICK UPDATE
There were no significant changes during last week in the demolition sector, with the upcoming New Year holidays undoubtedly playing a role in this quiet spell. In general Indian Buyers appeared to take the lead, showing a stronger appetite for tonnage in comparison with their competitors. In Bangladesh, activity was still trying to face the intense competition of its neighbours with local buyers torn between their need to secure tonnage and hesitating due to the market uncertainty. Pakistani market had to adapt its activity once again in accordance with the…..
Source: Athenian ShipBrokers
15th December 2017 – Volume 184 Issue 805 – Week 50
CALLING THE SHOTS!
This week, the general shortage of supply finally resulted in some of the previously exorbitant Cash Buyer purchases being onward committed to end Buyers, at levels comfortably in excess of breakeven, as a number of resales were reportedly confirmed at increasingly firmer prices. The primary focus of the industry has remained the soaring Indian market where even a number of decent LDT tankers have been diverted from a far-too hesitant Bangladesh.
While a healthy majority of this week’s fixtures were reportedly concluded during the early part of the week, concerning news towards the end of the week saw declining local steel plate prices in India and the Pakistani Rupee depreciating even further, gradually approaching PKR 110 against the U.S. Dollar.
Source: GMS Leadership