03 April 2012

GMS weekly report on CHINESE shipbreaking industry for WEEK 13 of 2012:

Firming of local numbers was evident this week in China as the bidding on the various cape bulkers available went into overdrive.

A number of private units were committed and vet more under negotiation going into the Qing Ming festival this week.

Both Saturday and Sunday were working davs in China to accommodate the first three days of the coming week off. As such, there may be a slowdown in activity - despite several units from owners and yards still being negotiated. This may play into the hands of Bangladesh and the rest of the Indian sub continent markets with plenty up for grabs over the coming weeks.

Source: Steel Guru. (Sourced from GMS Weekly). 3 April 2012

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