Weekly Ship Recycling Market Report - Week 36 - PICKING UP!
Weekly Ship Recycling Market Report - Week 36 - PICKING UP!
Following the sale of Capesize bulkers for recycling last week, the trend has continued this week as well, with further transactions reportedly taking place on units – including Capes and a Suezmax tanker, as the market finally shows signs of life after an absolutely inert summer.
All of the major Ship Recycling destinations are still poised rather precariously, and Pakistan has seen some further depreciations on the currency towards the end of this week, whilst the country continues to battle floods, shortage of essentials, and the increasing spread of waterborne diseases, as thousands have perished in the floodwaters. Bangladesh too remains somewhat tentative, with limits on higher dollar value L/Cs still in place, local steel plate prices that took a noteworthy dive this week, and a Taka that seems to have found its stable place this week.
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