GMS Weekly – Week 14 (2020)

6 April 2020

GMS Leadership

Market Commentary

03 April 2020

Source: GMS Leadership

All of the major recycling locations remain under lockdown for yet another week as the Coronavirus pandemic spreads across the globe. Italy, Spain and the U.S. of A. are the present hotspots as cases and deaths continue to rise at a rapid rate (especially in the United States), with the peak, perhaps, yet to be seen across parts of Europe and the Americas.

There are certainly expected to be even more grim days and weeks ahead, as the world struggles and battles to get the virus under control and the race for a vaccine has taken on an ever more pressing priority, due to the number of people being infected and the ease at which Covid-19 continues to spread.

Certainly, shipping markets have taken a back seat as all of this has unfolded with much of the world going into isolation / quarantine, in order to try and contain the pandemic. As a result, ships have been laid up and denied entry into all subcontinent recycling locations (at least until April 15 th ), when measures may well be extended further, if no significant progress is made.

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