As the sub continent markets cooled, Chinese buyers began to acquire one
or two more units despite the continually weak market and prevailing levels for
all types of vessels still in the low USD 300s per LT LDT.
The gap between a sub-continent and a China delivery still stands at USD
150 per LT LDT, but local demo yards have remained active thanks to the
government subsidies that have seen a whole host of vessels of all sizes and
types (from state run owners) fill local yards.
Other South East Asian scrap yards in Vietnam, Indonesia, and even the
Philippines have also been active in diverting international (non Chinese
flagged) tonnage away from Chinese yards at similar levels if owners choose to
ignore the higher numbers in the sub continent, even for smaller general cargo
units.
Source: steel guru. 17 June 2014
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