As the October 2012 holidays reached an end, Chinese recyclers were faced with a bullish India and Pakistan market with otters some USD 100/LT LDT ahead of China's local market to contend with.

As a result, it was hardly surprising to see no market sales reported it may take a little longer for Chinese buyers to get back in the swing of things perhaps competing markets are needed to tire or suffer a fall in prices just enough that would help usher the Chinese back into the game.

Nevertheless, demand in local yards is evident, and particularly for smaller general cargo vessels where the ballast costs are simply too high to consider the voyage to the sub continent, deals are there to be done on geographically located units.

Source - GMS Weekly

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