26 November 2013

GMS weekly report on China ship breaking industry for WEEK 47 of 2013:

As Indian sub-continent markets started to take off again, China was left trailing in the wake of their competitors, unable to compete on numbers to secure any type of tonnage.

Indeed, there is some doubt as to whether Chinese buyers, on present form, could encourage vessels from Indonesian or Vietnamese waters to make the voyage over to China rather than scrapping respective units locally.

It was therefore no surprise to see the sales board empty in China for another week. Buyers can only hope that upcoming year-end when yards have to renew licenses and fill quotas will see prices push on again, as has traditionally been the case in years gone by.

Source: steel guru. 26 November 2013

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