As the dearth of tonnage offerings continues, local fixtures
and arrivals into Aliaga continue to diminish. Consequently, the desperation
from local buyers is continuing to rise whereby breakers are now reportedly
venturing out, looking for as is tonnage to bring home to local yards.
If the diminishing number of arrivals continues, we could
witness local yards temporarily closing shop until tonnage inflow picks up once
again.
Meanwhile, local fundamentals remain strong as the Turkish
Lira fluctuations against the US Dollar remain within the normal curve and
prices for tonnage too remain on even keel. However, with Indian levels flying
well above local offerings, it truly is a challenging time for the Turkish
market to keep even vessels opening up in the Med region, interested in
Turkey’s offerings.
Source: steel guru. 5 June
2014
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