A large delegation of Indian recyclers
arrived in Singapore this week, to attend the Tradewinds Ship recycling
conference. Amongst other issues discussed was the controversy surrounding the
potential beaching ban for European flagged vessels an issue that solicited
much fierce debate from speakers, panelists, and the floor alike.
The current hot market discussions
however concern the imminent arrival of, as many as 15 panamax sized containers
yet to be sold to Indian buyers. There remains a disconnect between cash buyer
asking levels and realities on the ground, with many end buyers seemingly
unwilling to budge from given levels, owing to the oversupply of arriving
vessels (with more still set to come) from this particular segment.
Many cash buyers are playing a risky game
with most units still unsold and set to arrive imminently. Once the vessels are
sighted off Alang, this is a surefire sign for end buyers to try and exploit
the situation by offering ever lower numbers to supposedly desperate Sellers waiting
at anchorage.
However, fundamentals remain encouraging
with the Indian Rupee trading mostly in and around a healthier INR 61 to the US
Dollar and steady steel prices leaving much ground for optimism. As with
Bangladesh, it is the smaller range of vessels from 5 to 12,000 LDT that are
drawing in the most buyers due to the lower risks and quicker cutting time
associated with importing such units.
Source: steel guru. 12 March 2014
No comments:
Post a Comment