World's leading cash buyer of ships for recycling GMS said that “Following a somewhat slower start to the year, vessel prices seem to be bouncing back in both Pakistan and Bangladesh this week. Steel plate prices have improved overall, especially in India, and the lack of tonnage continues to frustrate Recyclers. As such, any available tonnage is seeing intense competition at and above market pricing from hungry end buyers. Meanwhile, following a sluggish few months of performance, the Bangladeshi market seems to have come roaring back to the forefront this week, with a noticeable increase in levels anywhere between USD 20 30/LDT, as the Chattogram market seems to finally woken up. Pakistan too is not far behind the Bangladeshi market and has also improved last week, so much so that any geographically positioned tonnage is likely to end up in Gadani hands, despite the far superior levels on offer from Bangladesh. India is similarly in a good place at present but is simply unable to compete with the rampant Bangladesh and Pakistani markets. As such, Alang Buyers are only able to secure HKC or specialist / non-ferrous units, so uncompetitive is the Indian ship recycling market on any available market vessels at present.”GMS said “On the Western end, the Turkish market continues its steady but sluggish performance as the Lira stabilizes at record lows, yet the relatively stable import and local steel prices have kept vessel offerings at impressive highs.”GMS added “Overall, as the Chinese New Year holidays approach, it is expected to be be a quieter period of time in terms of supply and activity. Notwithstanding, it is hoped that more Owners will take advantage of these stunning rates, as the year of the Tiger commences”GMS PricingIndia/Bangladesh/Pakistan – Week 04Dry Bulk – USD 580-610 per LDTTankers - USD 590-620 per LDTContainers - USD 600-630 per LDT
World's leading cash buyer of ships for recycling GMS said that “Following a somewhat slower start to the year, vessel prices seem to be bouncing back in both Pakistan and Bangladesh this week. Steel plate prices have improved overall, especially in India, and the lack of tonnage continues to frustrate Recyclers. As such, any available tonnage is seeing intense competition at and above market pricing from hungry end buyers. Meanwhile, following a sluggish few months of performance, the Bangladeshi market seems to have come roaring back to the forefront this week, with a noticeable increase in levels anywhere between USD 20 30/LDT, as the Chattogram market seems to finally woken up. Pakistan too is not far behind the Bangladeshi market and has also improved last week, so much so that any geographically positioned tonnage is likely to end up in Gadani hands, despite the far superior levels on offer from Bangladesh. India is similarly in a good place at present but is simply unable to compete with the rampant Bangladesh and Pakistani markets. As such, Alang Buyers are only able to secure HKC or specialist / non-ferrous units, so uncompetitive is the Indian ship recycling market on any available market vessels at present.”GMS said “On the Western end, the Turkish market continues its steady but sluggish performance as the Lira stabilizes at record lows, yet the relatively stable import and local steel prices have kept vessel offerings at impressive highs.”GMS added “Overall, as the Chinese New Year holidays approach, it is expected to be be a quieter period of time in terms of supply and activity. Notwithstanding, it is hoped that more Owners will take advantage of these stunning rates, as the year of the Tiger commences”GMS PricingIndia/Bangladesh/Pakistan – Week 04Dry Bulk – USD 580-610 per LDTTankers - USD 590-620 per LDTContainers - USD 600-630 per LDT
