The market condition in Turkey remains steady as the
demand for tonnage from end buyers continues to persist, driven by a dearth of
supply. Additionally, the increasing prices offered from the India sub
continent markets are making things increasingly competitive for Turkish
buyers, who now have to compete with a price differential of more than USD 120
per tonne for similar units.
Consequently, for owners of vessels 4-5000 LDT (and
larger), it is more feasible to ballast their units and divert them towards the
sub continent. Presently, it is estimated that only about 10% to 20% of the
local yards in Aliaga remain busy while the rest remain relatively inactive due
to the diminished supply over the last couple of months.
While steel prices have remained stable, the TRY has
depreciated slightly as the week ended, trading at TRL 2.09 against the US
Dollar. Thus, it remains to be seen how prices for ships will perform going
forward.
Source: Steel
Guru. 20 May 2014
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