China’s lean spell continued with no market sales for
the week to report and a general lack of aggression / competitiveness to buy
locally.
Steel prices have been the chief driver behind this
most barren spell as the government has introduced deliberate cooling measures
for an economy that they felt had been growing too fast.
The one bright spot for local buyers concerns the
state led incentives that saw all Chinese flagged ships offer subsidies (yet to
be formally ratified) to scrap their vessels within China. This scheme has seen
a significant number of vessels recycled in Chinese facilities many directly
between owner and yard.
Source: steel guru. 3 December 2013
http://www.steelguru.com/international_news/GMS_weekly_report_on_China_ship_breaking_industry_for_WEEK_48/329010.html
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