China prices remained some way stranded behind their Indian sub continent competitors by as much as USD 150 per LT LDT, as the local market once again struggled to compete.
Even smaller general cargo vessels were being mooted for a voyage over to India Bangladesh range such was the gulf in levels between the markets. State subsidized vessels continue to fill yards however, all on a private basis done directly between recycling yards and owners. This is something that has kept prices artificially low as end buyers remain well stocked with vessels cheaper than the international standard due to the high government premium state owners receive on their Chinese flagged tonnage.
Source: steel guru. 12 March 2014http://www.steelguru.com/international_news/GMS_weekly_report_on_China_ship_breaking_industry_for_WEEK_10/334683.html