16 May 2012

GMS weekly report on Chinese shipbreaking industry for WEEK 19 of 2012:

Prices and sentiment in China remained drastically off for another week as very few buyers were able to offer up numbers due to a shortage of space in yards.

Where available, numbers below 400/LT LDT (often as low as 370-380/LT LDT) were there for dry units with an approx 15-20/LT LDT premium on offer for wet units.

Several older capesize sales emerged - Zodiac's STONEGATE (22,737 LDT) and the Taiwanese owned CAPE WARRIOR (20,538 LDT) for region LISD 420/LT LDT -concluded several weeks ago but only just arriving to one of the larger yards in Xinhui, South China.

Source: Steel Guru (Sourced from GMS Weekly).  15 May 2012

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