05 August 2014

GMS weekly report on China ship breaking industry for WEEK 30 of 2014:

Another empty week in terms of market sales masked a market that had (at least) been engaging in some negotiations.

Several green and undertow vessels had been negotiating for sale over the course of the week incoming storms in the Far East encouraged those in the area to perhaps take the quicker option of going to China rather than risking the voyage across to the sub continent.

Government tonnage of course continues to be proposed and concluded directly between yards and owner, with time to exploit the generous state subsidies swiftly running out next year.

Source: steel guru. 5 August 2014

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