02 July 2014

GMS weekly report on Turkey ship breaking industry for WEEK 26 of 2014:

For the last couple of weeks, activity in the Turkish market appears to have kicked up a notch. Not only did several vessels arrive locally for delivery / beaching, several more have arrived this week too and rumors of a few more private deals being concluded, surfaced as we the week ended.

There is the expectation that the market, leading up into July and August, will likely continue to improve as supply of (potential) scrap tonnage is expected to increase, thanks in part to the weakening freight markets in the Med Black Sea areas.

As such, the Turkish market may once again become the geographical preference for small(er) LDT units for whom sailing to through the Suez and on to the sub continent may not be a preferable option.

Source: steel guru. 1 July 2014

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