14 October 2014

GMS weekly report on China ship breaking industry for WEEK 41 of 2014:

Despite the conclusion of October Golden Week holidays, there was little activity to speak of in the Chinese international ship recycling sector as has been the case for much of the year so far since the implementation of the Chinese state subsidies.

There are several candidates opening up in the area but for even those smaller LDT general cargo units it makes sense for them to perform the final voyage over to the sub continent or even to competing South East Asian scrap yards.

The situation is expected to remain the same going into the final few months of the year, and we may only see China emerging as a force once again come the expiry of the state subsidies at the end of 2015.

Source: steel guru. 14 October 2014

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