The
ongoing Chinese New Year holidays saw minimal activity emanate from China this
week. Even though, banks were officially working on Tuesday, most people
remained on holiday, in their hometowns for the majority of the week.
In
the grand scheme of things, the Chinese absence from the international ship
recycling markets has made little difference to the ongoing sub-continent
dominance and things are expected to remain the same, post-holidays as well.
However,
it will be interesting to see where the Chinese market opens up as there is
clearly demand for vessels and if the ongoing supply of state controlled
Chinese flagged tonnage subsides, Chinese prices will have to pick up in order
to compete and secure their share again.
Source: steel guru. 11 February 2014
No comments:
Post a Comment