With Chinese New year holidays just around the corner
(commencing 30 th January and finishing 7th February) it was no surprise to see
levels in China improve as end buyers looked to stock their yards.
However, with
Indian sub continent levels pushing on remarkably this week, Chinese buyers
were deprived of any opportunities to pick up international tonnage. What will
be of some consolation is the fact the state owners with Chinese flagged
tonnage will continue their aggressive scrapping policy this year, off the back
of the government subsidies announced late last year something that will see
most demo yards receive incentivized vessels and at prices below market.
Source: steel guru.
25 January 2014
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