13 July 2013

GMS weekly report on Chinese ship breaking industry for WEEK 28 of 2013:

A realization of opportunities lost and empty yards led to a touch more aggression on the buying this week in China. To that end, one vessel was concluded as the Taiwanese controlled limestone carrier Fu Kuo Hsin No 6 (7,187 LDT) was concluded direct to one yard in the South of China for USD303/LTLDT.
The concern remains however over the stockpiles of steel that continue to accumulate in yards with most end buyers choosing to hold their inventories rather than sell due to the abysmal prices currently.
Source: steel guru. 11 July 2013

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