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Take a look below at our Demolition Weekly Market Reports for Week 51 of 2019 (listed alphabetically):
Week 51 2019 (16th December – 20th December)
DEMOLITION QUICK UPDATE
Without doubt the closing year of the decade was one of the most developing for the recycling markets and quite active also. The scrap prices during the year showed a downturn, eventually stabilising in a profit margin for the recyclers. For India was a turbulent year with the elections play an important role and also by choosing to go Green. For Bangladesh it was a year with a notable decent in…..
Source: Athenian ShipBrokers
20th December 2019 – Volume 208 Issue 909 – Week 51
As we approach the final week of the decade, we can look back on another interesting and relatively active year in the recycling markets, with many milestones and achievements to celebrate the constant change in this evolving industry.
In perhaps the most important move of the year, India’s adoption of the Ship Recycling Bill, 2019 (after a decade of hard work and lobbying) will see all of the approximately 140 Alang recycling yards become fully HKC compliant. Currently there are 75 HKC compliant yards in India (and one in Bangladesh) and the fact that all Indian facilities will now be required to upgrade to HKC standards under the guidelines of the new bill, is indeed a massive step in the right direction for the industry as a whole. We certainly hope that both Pakistan and Bangladesh follow suit in improving recycling standards at their respective local yards.
The year started with a plethora of Capesize bulkers being sold for recycling (around 25 sold over the course of the year), but by the middle of 2019, freight rates had surged to well above USD 30,000 per day, in an overall positive year for almost all sectors (tankers in particular) on charter rates.
Source: GMS Leadership