GMS weekly report on China ship breaking industry for WEEK 33 of 2014:

It has become a given that activity in the Chinese market remained at a minimum for another week, with levels stranded acres from reality. This lack of competitive pricing has cost yards their share of the international market tonnage for most of this year.

The state subsidies have however seen a raft of well priced government tonnage head to recycling yards along with the occasional green vessel. However, to lose vessels to local Indonesian, Vietnamese and even Philippine scrap yards should remain a source of discomfiture to Chinese buyers, given the relatively meager sophistication and experience of such competing facilities.

Source: steel guru. 19 Aug 2014

http://www.steelguru.com/international_news/GMS_weekly_report_on_China_ship_breaking_industry_for_WEEK_33/347160.html

GMS weekly report on Bangladesh ship breaking industry for WEEK 33 of 2014:

The Bangladesh recovery post-Eid and Ramadan holidays has yet to fully transpire, with pricing yet to match both cash buyer and owner expectations alike.

As a result, juicy high LDT vessels continue to bypass Bangladesh from the East, to exploit the excellent pricing presently on show from the fully firing Pakistan market.

End buyers will need to swiftly get their act together, should they wish to secure favored tonnage as vessels are simply slipping through their fingers at present.

A brief and small drop in steel prices (about USD 2 per LT LDT) brought some midweek murmurs to the market, but the overall fall was relatively inconsequential and prices are expected to improve moving forward.

Source: steel guru. 19 Aug 2014

http://www.steelguru.com/indian_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_33/347123.html

GMS weekly report on Turkey ship breaking industry for WEEK 33 of 2014:

Scant availability of scrap tonnage continues to keep the Turkish market out of the headlines for the most part. This dearth of vessels has driven desperate yards to venture out and hunt for vessels on their own.

As a result, a lot of the tonnage that has been arriving the shores of Aliaga of late, has been as is deals concluded by the yards or undertow vessels that were too expensive to deliver to the sub-continent markets.

Meanwhile, demand for tonnage remains hot as ever, even though the Turkish Lira has been gradually declining against the US Dollar over the course of last month. This now poses its own challenges to the local buyers who have been offering firmer levels for the few units on offer, while facing increasingly expensive vessels in the process of doing so.

The present remains a challenging time for the Turkish recycling market.

Source: steel guru. 19 Aug 2014

http://www.steelguru.com/international_news/GMS_weekly_report_on_Turkey_ship_breaking_industry_for_WEEK_33/347162.html

GMS weekly report on Pakistan ship breaking industry for WEEK 33 of 2014:

The market of the moment continued to perform impressive feats this week with some huge numbers seen on available tonnage particularly favored large LDT dry vessels and tankers (gas free for man entry only).

The recent setbacks in India did not seem to deter end users although there is the feeling that many of the hot buyers are swiftly filling their plots.

As a result, the remaining Gadani buyers may look to peg their prices just below India, in attempts to sneak in a bargain or two, despite fundamentals remaining strong. If Bangladesh fails to push on to the heights hoped for, then some of these less aggressive end buyers may succeed in this.

Source: steel guru. 19 Aug 2014

http://www.steelguru.com/international_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_33/347158.html

GMS weekly report on Indian ship breaking industry for WEEK 33 of 2014:

A curious week of declines and falls was punctuated by the sale of two containers at exceptional (and highly speculative) levels based on today's sentiment.

The Yang Ming panamax sized container YM NORTH (19,415 LDT) fetched a superlative USD 491 per LT LDT 'as is' Colombo with no guarantees of remaining bunkers (which were expected to be about 250 tonnes to 300 tonnes ROB sufficient for the voyage to its intended recycling yard). The concerned cash buyer may be hoping to play the equidistant Bangladesh and Indian markets, in order to extract the best possible price.

Zim of Israel, likewise committed the ZIM JAMAICA (16,900 LDT) for a very firm USD 510 per tonne LDT. The vessel is due to discharge West Coast India and is expected to deliver around the end of September. The relevant cash buyer seems to be taking a forward position, with the Indian market not offering prices at these sorts of levels at present and the Pakistani market not that interested in acquiring containers due to beaching draft issues.

Meanwhile, the currency spent much of the week trading above INR 61 against the US Dollar, with a small recovery seen towards the end of the week. The outlook for the months ahead however remains bleak with almost USD 20 to USD 25 per LT LDT knocked off the pricing in the past few weeks alone (due to sliding scrap steel prices and an unexpected depreciation of the Indian Rupee).

Source: steel guru. 19 August 2014

http://www.steelguru.com/indian_news/GMS_weekly_report_on_Indian_ship_breaking_industry_for_WEEK_33/347121.html