In keeping with the diminutive performance of
the industry over the last several weeks, ship-recycling markets endured
another turbulent week as prices inched ever lower amidst volatile currencies
and spiraling local steel plate prices.
Supply too, perhaps because of, has eased up
of late. As such, these remain difficult times for those left with unsold
vessels as there seem to be very few open end Buyers who are willing to
negotiate / offer on available tonnage at present – especially whilst the
ongoing market uncertainty persists amidst the high asking prices from Ship
Owners and Cash Buyers alike.
On the sales front, it has been yet another
slow week and this may perhaps help bring prices back to their previous highs,
at or above the coveted USD 400/LDT mark once again.
Meanwhile, as commodities and stock markets
remain at record highs, this recent slowdown in steel plate prices and levels
across the sub-continent/Turkish markets is certainly a curious one and could
be a result of Diwali holidays in India and the Communist Party Conference in
China, which has seen ship recycling activities and steel sales (in China)
grind to a halt.
For week 42 of 2017, GMS demo rankings /
pricing for the week are as below:
Source: hellenic
shipping news. 24 October 2017
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