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Ship Recycling Prices Soften (again)
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Sentiments have softened across sub-continent markets once again this week, as buyers appear increasingly reluctant to commit on fresh tonnage while fundamentals remain so shaky – especially as the markets have witnessed across the last couple of weeks, where currencies and steel plate prices took turns in tumbling.The Pakistani Rupee has breached historical lows and despite the odd flash of appreciation…
Ship Recycing: Plates Plunge
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While activity seemed as though it had been steadily increasing going into the final quarter of the year, the last couple of weeks have sent mixed signals as to whether the fourth quarter will actually be better for the ship recycling sector as many have been anticipating.A couple of weeks ago, we saw currencies plummet in Pakistan and Bangladesh to the point, a wait-and-watch attitude encompassed…
Markets: Ship Scrapping Perks Up
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Following the sale of Capesize bulkers for recycling last week, the trend has continued this week as well, with further transactions reportedly taking place on units – including Capes and a Suezmax tanker, as the market finally shows signs of life after an absolutely inert summer, according to GMS.All of the major ship recycling destinations are still poised rather precariously, and Pakistan has seen some further depreciations on the currency towards the end of this week…
Ship Recycling Market Slows with Dearth of Tonnage for Scrap
Sub-continent markets are going to be (seemingly) deprived of tonnage in the foreseeable future, as recycling rates continue their downward descent and tighter restrictions…
Fears Grow in the Ship Recycling Market
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Fears and concerns across the sub-continent recycling markets continue to grow as local currencies across all major ship-recycling destinations continue to worryingly depreciate by the day and some even tougher restrictions reportedly set in place on the opening of fresh Letters of Credit (L/Cs) in Bangladesh this week, as the foreign currency crisis in the country deepens further.In fact, the currencies have been such a source of frustration for the ship recycling community that the U.S.
Strong Dollar Adds Instability to the Ship Recycling Market
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As the ship recycling sector continues to try and adjust to these new lower realities on price, in addition to adhering to new regulations on L/C limits amidst a dire shortage of U.S. Dollars foreign exchange / reserves in both Pakistan and Bangladesh, the industry is certainly going through an uncertain period.This week, the Bangladeshi government introduced new limits to cap the outgoing volume of U.S.
Ship Recycling Market's 'New Normal' is Turmoil
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All of the major global recycling markets remain in turmoil for yet another week, with very few offers forthcoming (matching the near invisible number of units currently available for recycling), in addition to an utter lack of confidence from Recyclers across all locations that any sort of recovery is quite clearly not in the ropes anytime soon.There is the ongoing excruciating reminder that there are virtually no candidates to work on…
Ship Recycle Market Continues Downward Trend
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The ongoing sub-continent collapse in prices fully materialized this week, with all sectors talking down the market and refusing to offer anew on any fresh tonnage whilst they wait for markets to stabilize. As the Ukraine conflict endures, fundamentals continue their collapse at all of the major recycling destinations, as plate prices take turns to precipitously plummet (in India this week) and a combination…
Ship Recycling Prices Continue Downward Trend
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Another woeful week of declining sentiments has left all of the major global ship-recycling markets on edge as the industry approaches the summer / monsoon months in the sub-continent. Moreover, it seems doubtful (at present) that any more noteworthy deals will likely be concluded, especially with the industry in such a state of disarray.Depreciating currencies and plummeting steel plate prices (especially…
Ship Scrap Prices Take a Turn for the Worse
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Sub-continent markets have taken a turn for the worse this week, as collapsing steel prices in India and Eid holidays in Pakistan, Bangladesh, and Turkey have led to depressed sentiments and virtually no new offers emanating on any available tonnage.Most end users now want to wait-and watch-market developments before offering anew on vessels at far lower levels that seem more in line with the realistic…
Shipbreaking: Starved of Supply!
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India finally leads the way on pricing this week, as all of markets i.e. Pakistani, Bangladeshi and even the Turkish markets work their way towards Eid holidays and the end of the Holy month of Ramadan, GMS, which describes itself as the world's largest buyer of ships & offshore vessels, said in its latest weekly commentary.In fact, GMS said, several markets are likely to be closed anywhere from a…
Markets: Volatility Remains in the Ship Scrap Market
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It has been another challenging week in the sub-continent markets, with a resurgent India and a Bangladeshi market that is still reeling from some of the recent falls in local steel, which have seen nearly $50/LDT knocked off the prices this week alone, according to GMS.India has managed to regain over half of the falls seen over the previous few weeks, but the market overall does remain extremely volatile.Commodity prices and volatile currencies show few signs of cooling off any time soon…
Ship Scrap Prices Continues Upward Momentum
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Another promising week passed in the sub-continent markets this week, with resurgent Pakistani and Bangladeshi (in particular) markets putting down some show stopping numbers on available units.GMS reports haveing seen several Capes sold for HKC recycling in the mid USD 600s/LDT in recent weeks, especially as chartering rates in this sector have taken a bit of a dip. Tankers keep being introduced into…
As Steel Prices Rise (again); Ship Scrapping Prices Rise, Too
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Following recent upward moves on domestic steel plate prices at nearly every major recycling destination, it was another week of firm pricing and a sub-continent market that is still on an aggressive footing for the most part.Demand remains rampant and capacity at yards remains open for any available tonnage (market or otherwise), leading to bidding wars on any of the marginal number of choice units…
Ship Recycling Prices March Forward (Again)
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Chinese (Lunar) New Year holidays concluded this week and there appears to be a real spring in the step of industry players, as international ship recycling markets continue to push on once again, according to GMS.Both, Pakistan and Bangladesh, have been at the forefront of this recent resurgence, with an improved India (that is still unable to compete on any regular / non-HKC / non-specialist tonnage)…
Currency Crash, Dearth of Demand Define the Ship Recycle Business
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Sub-continent ship recycling markets (including Turkey) remained in a precarious position this week, with the recent decline in steel plate prices mixed in with the crushing depreciation of currencies that has led to a serious dearth in the global demand for tonnage, reports GMS.As a result, there have still not been any noteworthy sales at these new lower levels to justify some of the alarming news emanating from sub-continent markets…
Ship Recycling: What Goes Up, Must Come Down
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The recent noteworthy drop in the Indian ship recycling market seems to have reverberated across the sub-continent recycling sector this week, as competing markets start to reverse their vessel offerings in near unison, according to GMS.Bangladesh has remained largely quiet for much of the week as they observe the ongoing price reductions, whilst local Recyclers expect further falls ahead.Indian steel plate prices have declined by nearly $45/LDT over recent weeks…
Ship Recycling: Steel Place Prices Jump
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The last quarter jump in local steel plate prices (and at varying degrees) seems to have swept across all major recycling markets (including China) this week, according to recent market insights from GMS. The jump in levels varied from as little as $5/Ton from the Chinese market, all the way to $30/Ton on the Turkish end, with the sub-continent markets bridging the gap.Despite the dry sector continuing to perform surprisingly well and keeping the markets starved of bulker and container units…
Ship Recycle Prices Settle - GMS
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Prices have settled into a new reality this week as end buyers get back to buying at levels just shy of the historical peaks seen this year, closer to (and in some cases, just over) $600/LT LDT from the market leaders, on high-spec units.It has been a phenomenal year for the sub-continent ship recycling markets thus far, which has seen prices more than double in the space of the last 12 months, especially as supply gets tight.
Markets: Ship Recycling Market Remains on Firm Footing
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Indian sub-continent markets remain positioned on a largely firm footing, as a surprising shortage of tonnage keeps demand stuck high and prices propped up.The conclusion of Eid holidays has yet to see an increase in supply, despite the fact that the ongoing monsoon / summer holiday months could also be contributing to the overall sluggishness in the supply of units intended for recycling.After this…