A lack of buying interest amidst a further slump in levels saw the pendulum shift once again back to the Indian sub continent and Bangladesh in particular as China's geographically closest rival.

No market sale for the week was testament to this fact as many Far East owners looked to temporize sales with rates less than impressive currently.

For the smaller yards, capacity remains a concent, but several of the larger yards are capable of taking as many as 50 vessels at one time and the cutting process means a relatively swift turnover of vessels.

Source - GMS Weekly

(www.steelguru.com)