31 August 2011

GMS weekly report on CHINA shipbreaking industry for WEEK 34 of 2011:

  • Demand and prices remain stable
  • Possibility to loose?
Steady Freddie!

As the only major player in the industry not displaying any confusing/volatile signs, the Chinese market remained stable with its steady demand and local prices that have resulted in local chop shops continually plucking away market tonnage especially tor market units on offer that do not justify ballast voyages to the sub-continent.

While there were no fresh fixtures this week, last week reported (undertow) sale of the M/V SEA TRINITY failed at USD 450/LT LDT and the vessel was quickly resold at a USD 10/Ton premium at USD 460 per tonne.

As the Indian market is once again displaying signs of firming prices and it remains to be seen how many future geographically positioned units within Chinese waters will once again be drawn away from Xorth South Chinese yards.

Source: GMS Weekly. 29 August 2011

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