14 November 2013

GMS weekly report on China ship breaking industry for WEEK 44 of 2013:

The emergence of Indian sub-continent markets from their holidays has somewhat isolated the Chinese market, with very few deals to report in the last few weeks.

Steel prices remain subdued and for the time being, it appears as if there is no competing with their sub-continent competitors - let alone scrap yards in Vietnam and Indonesia. For larger vessels, cash buyers are choosing to buy 'as is where is' and ballast for the final voyage over to India, Pakistan or Bangladesh.

Certainly capacity and demand are good in both North and South recycling yards yet international demands and owner / cash buver expectations are too far from reality at present (unless for fully green recycling into China).

Source: Steel guru. 13 November 2013

No comments: