22 May 2013

GMS weekly report on China ship breaking industry for WEEK 20 of 2013:

A week of empty offers was largely down to the fewer candidates being proposed into the local market, as owners on all sizes and types of tonnage looked elsewhere to conclude their deals.

Offers have been so poor or late - in the 350s/LT LDT and often below for smaller sized tonnage - that most owners are now seriously considering the voyage to the Indian sub-continent (preferably Bangladesh due to proximity).

It remains to be seen how much longer this lull in activity will last in China, but with monsoon season just around the comer (and a traditional third quarter softening in levels often seen in the sub-continent as a result), many will be hoping a return to form happens sooner rather than later.

Source: steel guru. 22 May 2013

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