As newer vessels in the
Far East become available for demolition, they stand to be greeted by a Chinese
market where renewed optimism, improving demand, and finning prices have been
witnessed over the last few weeks.
Few market deals came to
light this week but Chinese controlled and flagged units (thus eligible for tax
breaks / incentives) were, more often than not, concluded directly between
owners and local recycling yards.
As such, now may be the
ideal opportunity for Chinese yards to try and acquire vessels (with the
pricing now only about 50 USD/LT LDT off of the sub-continent markets) and the
end of Eid / fourth quarter likely to bring the traditional spike in prices.
Source:
Steel Guru. 6 August 2013
http://www.steelguru.com/chinese_news/GMS_weekly_report_on_Chinese_ship_breaking_industry_for_WEEK_31/321253.html
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