14 September 2011

GMS weekly report on China Shipbreaking industry for WEEK 36 of 2011:

  • Pre-holiday improvements?
Decline or Rise:

Chinese buyers remained keen to acquire pre-mooncake holidays and finished the week as the second most active international market with two sales that registered.

The 'as is' sale of the bulker KADMOS with 500 T IFO remaining on board in Lianvungang, North China had all the hallmarks of a Bangladesh or even Indian purchase but it will take a fairly punchy number just to breakeven on today market.

The bulker Fu Jin (6,718 LDT) went for a firm USD 460/LT LDT into a North China (Shanghai region) shipyard as prices remained stable (as they have been for a long time) but with no definite signs of decline or rise.

Source: GMS Weekly. 12 September 2011

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