Rather than using Indian sub continent
turmoil as a chance to pick up a few units themselves, China instead relied on
their own mini crisis, to make it a miserable past few weeks in international
ship recycling quarters.
Not one market sale was registered to
local users this week, despite the handvsize bulker ATLANTIC MAJESTY (8,259
LDT) delivering successfully to end buyers at a verv firm USD 415/LT LDT
(including 350 T of bunkers upon arrival).
Levels on dry vessels are varying
greatly from 360 to 390/LT LDT (depending on specs) and many vessels are not
even able to find end buyers with a lot of the yards already packed full of
tonnage.
Source: Steel
Guru. 29 May 2012
http://www.steelguru.com/chinese_news/GMS_weekly_report_on_Chinese_ship_breaking_industry_for_WEEK_21/265971.html
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