With Chinese New Year holidays set to commence on February 18th next week
many people have left for their hometowns early in an effort to avoid the
traditional last minute rush.
Not that this will have an effect on the international ship recycling
market in China with prices and sentiment there lifeless for much of the last
year levels are virtually at rock bottom with offers below USD 200 per LDT
forthcoming on certain units.
Chinese state owners remain busy though with Cosco having scrapped
another 8 Chinese flagged units (5 containers and 3 bulkers in January alone)
eligible for the government policy that sees owners receive a Huge USD 150/GRT
for scrapping locally.
Source: steel guru. 17 Feb 2015
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