GMS weekly report on Bangladesh ship breaking industry for WEEK 02nd 2015:

A whole range of offers on available tonnages have been forthcoming from Bangladesh for some time now. Favored units will obtain a premium whilst older dry vessels in poor condition will receive much lower levels (now below 400) and provided there is any interest at all.

Indeed, it has become important to tailor vessels to particular end buyer enquiries as some have declared themselves out of the market altogether as they wait and watch market developments (perhaps fearing further falls), whilst others are looking to equalize their recent high priced purchases with vessels acquired at today's bargain rates (or even below).

However, despite talk of several larger LDT candidates coming for sale in the first half of January, owners have yet to cash in on their older units (even with rates on panamax and capesize bulkers as dire as they are), and if supply continues to slow, end users may have no other choice but to improve their numbers accordingly.

Source: steel guru. 14 Jan 2015

http://www.steelguru.com/indian_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_02nd_2015/355739.html

GMS weekly report on India ship breaking industry for WEEK 02nd 2015:

As the Rupee made some impressive gains from the high INR 63s against the US Dollar to around INR 62.3 by the end of the week (about one whole%age point), several sales were concluded at increasingly impressive numbers.

It certainly appears that cash buyers are starting to speculate once again, expecting further improvements in the weeks ahead. The talk from many industry insiders is that the market has bottomed out and the only way from here is up.

Certainly, recent movements on the currency have begun to encourage once again, yet the steel price remains as volatile as ever and there is still the local nagging fear of cheap Chinese billets being imported as it continues to undercut existing inventories on plots (something that Pakistan has reacted to positively this week).

On the local fixtures front, two bulkers were sold this week with spare propellers and bunkers - the handy bulker ABM LEADER (8,085 LDT) fetched a decent USD 425/LT LDT (with 125 T bunkers ROB) and the panamax bulker THE BENEFACTOR (9,438 LDT) was committed for a decent USD 435/LT LDT with around 340 T bunkers ROB upon arrival.

Of course vessels arriving with bunkers are receiving much less of a premium these days than owners have been used to in the past, due to the sliding fuel prices (and bearing in mind the demo value for same is only around 50 % anyway).

MARKET SALES REPORTED

VESSEL NAME	TYPE	LDT	REPORTED PRICE
ABM LEADER	Bulker	8,085	USD 425/LT LDT (with 125 T bunkers ROB and spare prop)
THE BENEFACTOR	Bulker	9,438	USD 435/LT LDT (with 340 T bunkers ROB and spare prop)

Source: steel guru. 14 Jan 2015

http://www.steelguru.com/indian_news/GMS_weekly_report_on_India_ship_breaking_industry_for_WEEK_02nd_2015/355740.html

GMS weekly report on Bangladesh ship breaking industry for WEEK 52 of 2014:

Compared with previous years when Bangladeshi buyers were submerged by a deluge of large LDT, high profile units, it has been a relatively quieter year for Chittagong buyers.

Fewer favored capesize bulkers, VLCCs, and suezmax tankers (gas free for hot works) have been available for sale. Many of the panamax containers have likewise ended up heading to India, where buyers on the whole have been more aggressive to acquire.

Similarly, Gadani buyers have led the year on larger LDT vessels, with the majority of VLCCs and even panamax bulkers (almost 70 scrapped in total) heading to Pakistan throughout the year.

However, with many capesize bulkers expected to hit the market due to the oversized order-book next year, it may be a busy year to come for Bangladeshi buyers once again.

Source: steel guru. 31 December 2014

http://www.steelguru.com/indian_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_52/355257.html

GMS weekly report on Indian ship breaking industry for WEEK 50 of 2014:

A few signs of life began to emerge from the Indian market this week and several fresh deals were concluded as a result.

Yet, end buyers seem as confused as cash buyers as to where market levels should actually be. Whilst steel prices regained some of the losses of previous weeks, the Indian Rupee depreciated to excess INR 62 again (almost touching INR 63) against the US Dollar, in some worrying developments during the week.

Subsequently, many end users simply abstained from any buying or offering, fearful of further falls and not willing to book any new units whilst such uncertainty is in play.

Notwithstanding, three new units were concluded by hardy end buyers, with MSC selling another unit as the MSC JENNY (14,898 LDT) fetched a decent USD 461 per LT LDT (with inward clearance for Buyer’s account).

Glory Ship management of Singapore also sold two more of their older logger type vessels as the MERCURY (7,452 LDT) and ASEAN WISDOM (7,466 LDT) received USD 437 per LT LDT en bloc for a likely January delivery.

Source: steel guru. 31 December 2014

http://www.steelguru.com/indian_news/GMS_weekly_report_on_Indian_ship_breaking_industry_for_WEEK_50/354365.html

GMS weekly report on Turkey ship breaking industry for WEEK 52 of 2014:

It was rather a quite week for Turkish recyclers, in view of Christmas holidays being celebrated in most parts of the world.

Hardly any units were reportedly negotiated and overall there were no fundamental changes to (positively) affect the domestic recycling market. As such, the sentiment remains positive and end buyers are in a buying mood, especially for quality units.

Nonetheless, like the week of Christmas, the last week of December is expected to be quiet with most people getting ready to welcome the New Year.

Source: steel guru. 31 December 2014

http://www.steelguru.com/international_news/GMS_weekly_report_on_Turkey_ship_breaking_industry_for_WEEK_52/355279.html