The state of the ship recycling sector
remained identical and unchanged for the second week in a row as the industry
trudged half way into October and into the third week of the month.
Essentially, on the one hand we
continue to see a few cash buyers making speculatively (high) priced offers
that are nowhere near what the market (end user) has to offer. On the other
hand, we continue to observe the jittery performance in the sub continent with
numerous deals being renegotiated / failing (some reportedly as much as three
times) as vessels continue to be left stranded missing their respective tides
and even shifting delivery locations.
The Chinese market, having returned
from their holiday, have managed to take home a few vessels as the week ended
with southern yards spear-heading the performance of the region.
Lastly, the Bangladesh
For week 41 of 2011, GMS demo rankings
for the week are as below:
Country
|
Market
Sentiment
|
Gen Cargo
Prices
|
Tanker Prices
|
Weak
|
USD 495/lt ldt
|
USD 525/lt ldt
|
|
Weak
|
USD 490/lt ldt
|
USD 525/lt ldt
|
|
Cautious
|
USD 485/lt ldt
|
USD515/ltldt
|
|
Unstable
|
USD 430/lt ldt
|
USD 450/lt ldt
|
Source: Steel Guru (Sourced from GMS Weekly). 19 October 2011
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