16 September 2014

GMS weekly report on China ship breaking industry for WEEK 37 of 2014:

As prices remained stranded well below USD 300 per LT LDT, it was another no show of a week in China.

Even Vietnamese, Indonesian and Filipino scrap yards were able to pay firmer levels than in China. As a result, many locally flagged smaller vessels finished up in these yards rather than making the voyage to a traditionally higher Chinese market.

Of course, the supply of well-priced state tonnage eligible for the subsidies remains consistent and this is where yards and owners alike continue to make their money.

Source: steel guru. 16 September 2014

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