World’s leading buyer of old ships for recycling GMS said “Another solid showing from sub-continent markets has given encouragement to Ship Owners and Cash Buyers, to start testing potential prices with firm candidates. Indeed, several deals have been concluded off the back of these improved numbers, including one more Capesize bulker at firm levels basis an ‘as is’ Singapore delivery. Now that the Chinese New Year holidays have concluded, the expected bounce in freight markets has yet to materialize, so an increased number of dry bulk and container units, in particular, have come under serious negotiations for recycling.”GMS said “Even global currencies are starting to settle against the US Dollar and steel plate prices have found a relatively steady place, as demand and a firm buying interest is increasing across all markets, even for Pakistan and Bangladesh, where it is often not feasible to do deals there due to the ongoing LC restrictions. Talks on the much-needed IMF loans are still ongoing in each country, to bring back some essential liquidity and US Dollars needed to establish fresh Letters of Credit so that domestic recyclers can start to import vessels & steel once again. In Bangladesh, there are certain select end buyers who can open LCs with private financing, away from the government bank restrictions, or with Usance LCs, but this still provides only limited options to Cash Buyers & Owners with vessels to sell.”GMS added “Finally, Turkey too continues its stable streak with firming steel prices and a currency that’s found a new plateau to rest on, resulting in vessel prices firming an additional USD 10 per tonne last week.”In other news, the Brazilian government owned warship Sao Paolo has tragically and unnecessarily been scuttled off the coast of Brazil with a plethora of hazardous materials on board, all while NGOs and outside observers, with no real knowledge of ship recycling, keep putting pressure on various countries, including Turkey, to deny entry of vessels for recycling.GMS demo rankings – India/Pakistan/Bangladesh – Week 05 up USD 5 WoWDry Bulk – USD 525-545 per LDTTankers – USD 535-555 per LDTContainers - USD 545-5655 per LDT
World’s leading buyer of old ships for recycling GMS said “Another solid showing from sub-continent markets has given encouragement to Ship Owners and Cash Buyers, to start testing potential prices with firm candidates. Indeed, several deals have been concluded off the back of these improved numbers, including one more Capesize bulker at firm levels basis an ‘as is’ Singapore delivery. Now that the Chinese New Year holidays have concluded, the expected bounce in freight markets has yet to materialize, so an increased number of dry bulk and container units, in particular, have come under serious negotiations for recycling.”GMS said “Even global currencies are starting to settle against the US Dollar and steel plate prices have found a relatively steady place, as demand and a firm buying interest is increasing across all markets, even for Pakistan and Bangladesh, where it is often not feasible to do deals there due to the ongoing LC restrictions. Talks on the much-needed IMF loans are still ongoing in each country, to bring back some essential liquidity and US Dollars needed to establish fresh Letters of Credit so that domestic recyclers can start to import vessels & steel once again. In Bangladesh, there are certain select end buyers who can open LCs with private financing, away from the government bank restrictions, or with Usance LCs, but this still provides only limited options to Cash Buyers & Owners with vessels to sell.”GMS added “Finally, Turkey too continues its stable streak with firming steel prices and a currency that’s found a new plateau to rest on, resulting in vessel prices firming an additional USD 10 per tonne last week.”In other news, the Brazilian government owned warship Sao Paolo has tragically and unnecessarily been scuttled off the coast of Brazil with a plethora of hazardous materials on board, all while NGOs and outside observers, with no real knowledge of ship recycling, keep putting pressure on various countries, including Turkey, to deny entry of vessels for recycling.GMS demo rankings – India/Pakistan/Bangladesh – Week 05 up USD 5 WoWDry Bulk – USD 525-545 per LDTTankers – USD 535-555 per LDTContainers - USD 545-5655 per LDT
