The Chinese ship
recycling market looks set to end the year with minimal international sales and
with a recent historical low on prices.
Once more, it was grim
reading in terms of levels being offered (with only low USD 200s per LT LDT
workable from local yards) as state owners continue to exploit the generous
state subsidies and deliver their vessels to Chinese yards (150/GRT premium on
the scrap price with a further 150/GRT discount on a corresponding new
building).
Leaders have recently
been criticized for the scheme, which has not been aimed at rebalancing the
world fleet, but more to keep Chinese yards and workforces busy domestically
(to spur domestic growth).
Source: steel guru. 09
Dec 2014
http://www.steelguru.com/international_news/GMS_weekly_report_on_China_ship_breaking_industry_for_WEEK_49/354026.html
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