India: Activity has slowed at India's shipbreaking yards now that higher prices
for older ships are making owners less willing to scrap them, according to
London-based Clarkson Research Services.
The analyst has warned of a risk of speculative purchases by
cash buyers banking on a market hike in the coming weeks. 'It is presently a
very tough market to call, with each unit requiring an individual valuation
which takes account of many differing factors,' it stresses.
Pakistan-based buyers have been increasingly active in
recent weeks, offering strong rates to snatch large tonnages from their Indian
and Bangladeshi rivals. However, recent currency fluctuations have also created
uncertainty among Pakistan's Gadani yards, according to Lloyd's List.
Prominent recent sales into Pakistan include the 1994-built
Suezmax tanker 'Nikator', operated by Cavodoro Shipping, which was reportedly
sold for US$ 12 million (Euro 8.7 million). However, GMS says some Chittagong
yards in Bangladesh are anticipating continued improvement in local steel plate
prices and have begun to stockpile vessels.
Source: recycling international.
17 December 2013
No comments:
Post a Comment