Ship Recycling Market - Week 40 - BYPASSING BEACHES!
MARKET COMMENTARY - BYPASSING BEACHES!
Sub-continent markets appear to have disappeared back into the ether for another week, as trading markets rebound and candidates for recycling start to dissipate.
In recent weeks, volatile steel plate prices, a constantly deteriorating currency and starved U.S. Dollar credit lines across India, Pakistan and Bangladesh have all led to a near total halt on buying at anywhere near respectable levels.
As such, it is hard to gauge where prices really stand today, with so few Buyers either having the capabilities to open an L/C & perform on any sizeable vessel, and furthermore, the lack of any sort of confidence to offer and maintain any firm levels.
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