03 August 2011

GMS weekly report on CHINA shipbreaking industry for WEEK 30 0f 2011:

Despite some signs of bullishness in recent weeks and a need to improve in price just remain competitive on geographically positioned units with the Indian sub-continent and it was another week of fairly unspectacularly activity in China.

On market sale did register- direct from Chinese owners to local Chinese yard as the older bulker WIN STAR (7,879 LDT) found buyers in Zhanjiagang North China at USD 455 per LT LDT.

Nevertheless, with many cash buyers once again speculating on Bangladesh and prepared to take chances on as is vessels in China, some more improvement will be needed from Chinese buyer just to keep pace with their international market competitors.

Source: Steel Guru. (Sourced from GMS Weekly). 3 August 2011

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