Overall, the last week of January was a
calm week in terms of sales activity and inflow of Vessels but a rollercoaster
ride in terms of currency fluctuation causing some concern for local ship
recyclers.
The
Turkish Lira hit a new all-time record low of TRL 2.38 against the US Dollar on
Monday, strengthened significantly down to TRL 2.16 on Wednesday and closed at
TRL 2.26 on Friday.
Steel prices remained relatively stable and
with a healthy demand of ships along with open yard capacity (at roughly 40% to
50%), it remains to be seen just how the currency will set the mood in the
upcoming week.
Source: steel
guru. 4 February 2014
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