24 November 2011

GMS weekly report on CHINESE shipbreaking industry for WEEK 46 of 2011:

Ø    Price rise

Closing The Gap!

The only positives from another week of turmoil and confusion in the international recycling markets were the return to some sort of form for Chinese market. Prices rose by some USD 20/LT LDT and many of the buyers - conspicuous in their absence in recent weeks - returned to the bidding tables.

One vessel did register into North China as the small asphalt tanker BLACK JADE (2,066 LDT) from Korean owners was sold for a price region USD 385/LT LDT. The 2nd vessel from these owners, the BLACK PEARL (2,262 LDT) make only come for sale upon conclusion of the first deal.

With Indian sub continent sentiment and prices weakening by the day, we may soon see prices only USD 50/LT LDT apart as opposed to the 100/LT LDT gulf apparent only last week.

Source: Hellenic Shipping News (Sourced from GMS Weekly). 22 November 2011

No comments: