World's leading cash buyer of ships for recycling GMS said that “As the Christmas holidays approach, activity has cooled off significantly with very few fresh units being introduced into the market for sale. Notwithstanding, demand remains good, even at these reduced numbers, and it is surely a matter of time before some improvements in price are seen, given the stinging paucity of supply. This inactivity has come at something of an appropriate time, with levels in all sub-continent markets having declined by about USD 20-30 per LDT, from the peaks seen in September October.”GMS said “The falls in India have been far more pronounced, with about USD 50–60 per LDT being knocked off vessel prices due to plummeting domestic steel plate prices. Quotes on certain less favored units are now coming in even below USD 500 per LDT on occasion. The Pakistan Rupee and the Turkish Lira have both seemingly settled, having depreciated to all time historical lows and there was time this past week for Gadani End Buyers to conclude a few units in Cash Buyer hands as well, and at levels not too far off where the top priced Bangladeshi market is at present. Chattogram Buyers have been active too in recent weeks, securing a Suezmax and an Aframax tanker at impressive levels above USD 600 per LDT. Finally, the Turkish market saw the Lira firming and settling in around the TRY 10.48 mark by the time the week ended, and the volatility has resulted in prices declining by about USD 5 per Ton and a complete halt to local trading.”GMS added “It is likely therefore to be a quieter end to the year as markets grapple with these new realities under the stark realization that there are very few fresh units to work.”GMS PricingIndia/Bangladesh/Pakistan – Week 51, UnchangedDry Bulk – USD 550-590 per LDTTankers - USD 560-600 per LDTContainers - USD 570-610 per LDT
World's leading cash buyer of ships for recycling GMS said that “As the Christmas holidays approach, activity has cooled off significantly with very few fresh units being introduced into the market for sale. Notwithstanding, demand remains good, even at these reduced numbers, and it is surely a matter of time before some improvements in price are seen, given the stinging paucity of supply. This inactivity has come at something of an appropriate time, with levels in all sub-continent markets having declined by about USD 20-30 per LDT, from the peaks seen in September October.”GMS said “The falls in India have been far more pronounced, with about USD 50–60 per LDT being knocked off vessel prices due to plummeting domestic steel plate prices. Quotes on certain less favored units are now coming in even below USD 500 per LDT on occasion. The Pakistan Rupee and the Turkish Lira have both seemingly settled, having depreciated to all time historical lows and there was time this past week for Gadani End Buyers to conclude a few units in Cash Buyer hands as well, and at levels not too far off where the top priced Bangladeshi market is at present. Chattogram Buyers have been active too in recent weeks, securing a Suezmax and an Aframax tanker at impressive levels above USD 600 per LDT. Finally, the Turkish market saw the Lira firming and settling in around the TRY 10.48 mark by the time the week ended, and the volatility has resulted in prices declining by about USD 5 per Ton and a complete halt to local trading.”GMS added “It is likely therefore to be a quieter end to the year as markets grapple with these new realities under the stark realization that there are very few fresh units to work.”GMS PricingIndia/Bangladesh/Pakistan – Week 51, UnchangedDry Bulk – USD 550-590 per LDTTankers - USD 560-600 per LDTContainers - USD 570-610 per LDT
