12 August 2014

GMS weekly report on China ship breaking industry for WEEK 32 of 2014:

With Bangladesh emerging from Eid holidays with an appetite to acquire units once again, the possibilities for Chinese demo yards to acquire any international tonnage continues to grow slimmer.

Improving prices in Chittagong and lowly levels in China (below USD 300 per LT LDT) for many smaller vessels has starved local yards of tonnage for the best part of the year. The state subsidies have admittedly kept prices at artificially reduced levels (despite steel prices failing to impress), as Chinese state owners have been able to offer vessels at far lower levels than reality (to recycling yards), due to this generous government aid on offer.

Source: steel guru. 12 August 2014

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