Post elections are
trailed by yet another (fairly) positive week. Local prices improved marginally
(although a lack of market fixtures failed to peg where levels really stand
today) accompanied by a strengthening Turkish Lira. From the currency
perspective, the TRL appreciated against the USD from TRL 2.18 on Monday to TRL
2.12 by close of business Friday.
Notwithstanding, despite
positive market sentiments and local fundamentals, recycling activity remains
depressed as ship-owners continue to either trade their Vessels and reap the
benefits of an improved freight market in the area or (alternately) commit
their vessel to the sub continent. Strong local demand for Vessels persists
with many local recycling yards now empty and keen to acquire fresh tonnage.
Source:
steel guru. 8 April 2014
http://www.steelguru.com/international_news/GMS_weekly_report_on_Turkey_ship_breaking_industry_for_WEEK_14/336401.html
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