Another
frustrating week for Chinese recyclers saw a lack of market sales register and
a number of prime vessels relocated elsewhere or taken over ‘as is’ by cash
buyers, intent on making the final voyage over to Indian sub-continent range.
The price
gap remains about USD 150/LT LDT between both markets which is the amount state
owners are receiving as a premium on their Chinese flagged tonnage scrapped
locally.
The supply
of private tonnage from the likes of COSCO, China Shipping, and AMCL (who are
rumored to have sold one VLCC recently) persists at below market levels to keep
local yards supplied.
Source:
steel guru. 1 April 2014
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