20 August 2013

GMS weekly report on Chinese ship breaking industry for WEEK 33 of 2013:

As perhaps the only market (along with Turkey) currently displaying aity aggression to buy, it was a surprise this week to see Chinese buyers go without sustenance.

For any vessels positioned in the area, the voyage to the sub continent no longer makes sense for owners and tor some larger sized units with spares and fuel, prices started to even approach what the sub continent might pay.

Such speculation is the result of a barren last quarter of the year in China, with most scrap yards almost completely empty. This new found confidence and intent to buy is an encouraging sign however and may bode well for competing markets going into the fourth quarter of this year.

Source: steel guru. 20 August 2013

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