07 October 2014

GMS weekly report on China ship breaking industry for WEEK 40 of 2014:

China’s October Golden Week holidays has been beset by student protests in Hong Kong a big concern for a country used to stamping their order and authority on proceedings.

The ship recycling sector has experienced little in the way of activity (other than the private and direct supply from state owners benefiting from the local subsidies), and this is not expected to change after the October holidays.

It was therefore unsurprising that there were no new sales to speak of on the international front, with most vessels, even smaller LDT units in the area, heading to competing South East Asian scrap yards, or to those Buyers paying much higher on the price in the Indian sub continent.

Source: steel guru. 07 Oct 2014

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