Ship Recycling Market - Week 49 - TESTING THE WATERS!
Ship Recycling Market - Week 49 - TESTING THE WATERS!
After the last few weeks of insufferable performances from the major recycling markets, a shade of positivity was observed this week, as Owners seem more confident in testing the waters and welcoming firm offers, especially those that are above USD 500/LDT.
On the back of this seemingly positive note, one or two market sales of note even materialized this week and it does seem as though prices have bottomed out and sentiments have flatlined after losing a rather rattling USD 200/LDT, seen from the peaks witnessed earlier this year.
Bangladesh continues to struggle with L/C financing limits, but the IMF loan is reportedly in the works of being approved and with most yards currently lying empty, we expect demand and consequently prices to come back, especially once some liquidity is injected back into the domestic market.
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