09 September 2014

GMS weekly report on Turkey ship breaking industry for WEEK 36 of 2014:

Despite a relatively steady Turkish Lira and steady local prices for ships, the dithering availability (perhaps willingness of owners to consider Tureky) due to the firmer prices on offer from the Indian sub-continent, have ensured that most market vessels have sailed on for the shores of West Coast India / Pakistan.

As a result, small LDT regionally available scrap vessels have been the local flavor of late albeit in limited numbers.

With Turkey nearing the upper crux of what levels have historically been at, it seems the domestic recycling market will have no other choice than to wait until sub continent markets retreat to more competitive levels.

Source: steel guru. 9 September 2014

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