It has become a
given that activity in the Chinese market remained at a minimum for another
week, with levels stranded acres from reality. This lack of competitive pricing
has cost yards their share of the international market tonnage for most of this
year.
The state subsidies
have however seen a raft of well priced government tonnage head to recycling
yards along with the occasional green vessel. However, to lose vessels to local
Indonesian, Vietnamese and even Philippine scrap yards should remain a source
of discomfiture to Chinese buyers, given the relatively meager sophistication
and experience of such competing facilities.
Source: steel guru.
19 Aug 2014
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