The Chinese international ship recycling sector saw another flat week of
activity last week, despite the October Golden Week holidays coming to a close.
The sector has been low in activity since Chinese state subsidies were
implemented for breaking China-flagged tonnage earlier this year, and is
expected to remain that way until the end of next year.
“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,” said GMS, a leading cash buyer of ships for recycling, in its market
report last week.
“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: sino ship news. 13 October 2014
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