Ø No positives
stimulus needed Bangladesh
Out Till New Year!
With still no positive news to report regarding the court hearing in Bangladesh (the date was once more put back in familiar posturing by the relevant authorities), the industry faced yet another week with the big hitters out of action.
There is some talk that we may not see a market extension granted until perhaps even the New Year and into Jan 2012, with the judge seemingly intent to keep the doors of the industry firmly shut until firmer standards are implemented and conditions categorically improved.
Of course, such an action will only push levels from the competing neighbors even lower as one of the major competitors (i.e.
larger tonnage remains absent from ongoing negotiations. Bangladesh
At this stage, a
return to the action may
be just the stimulus the global recycling markets need to stabilize (in terms
of prices as well as overall demand). Bangladesh
NO Market Sales Reported
Source: Hellenic Shipping News (Sourced from GMS Weekly). 22 November 2011