20 February 2013

GMS weekly report on Chinese shipbreaking industry for WEEK 7 of 2013:

A lack of activity due to Chinese New Year holidays is expected to be broken next week with the return to the table of yards in both North and South China.

Whether all yards have renewed licenses in time and even returned from their hometowns from the holidays remains to be seen so it could be a rather stuttered start to the week at least.

No market sales were (unsurprisingly) concluded for the week and several owners will no doubt be monitoring prices with interest upon reopening as a number of candidates remain positioned in the area and Bangladesh has yet to jump up significantly on the price to justify the voyage over.

Expect a good scrap between the Chinese and Bangladeshi market in the year ahead on geographically positioned tonnage!

Source: Steelguru. 19 February 2013.

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