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GMS Market Commentary on Shipbreaking in China in Week 46 - NON-MOVER!

Steel News - Published on Tue, 20 Nov 2018

Image Source: SteelGuru
With a government quota of less than 3,000 LDT to absorb until the end of the year, the only open Chinese ship recycling yard that is still operating, is only offering bargain basement prices on any vessels that are being proposed.

Such rates (in the low-to-mid USD 100s/LDT) are certainly not going to tempt any ship Owner with vessels in the area, when they can obtain almost USD 300/LDT more from the various in subcontinent destinations (even on green recycling units).

Furthermore, emerging recycling destinations in Asia (Korea, Vietnam, Indonesia, Malaysia, Philippines) will likely be replacing China when 2019 comes around, as potentially viable locations for international tonnage once the closure of the Chinese market is formalized after the New Year.

Source :

Posted By : Nanda Koijam on Tue, 20 Nov 2018
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