Despite the Pakistani & Bangladeshi markets stabilizing and displaying a far better aggression on the bidding tables over the past 5 weeks, it has been a remarkably quieter begin to 2024 for ship recycling than many had anticipated, says money purchaser GMS.
With Houthi assaults, buying and selling markets have remained unseasonably firmer, thereby delaying the historic ‘post-New Year aggression’ from the sub-continent ship recycling markets that the trade has change into accustomed to over time.
Even although Bangladeshi and Pakistani markets have managed to maintain sub-continent recycling costs propped up while ranges and demand from these nations continues to step by step agency, only a few workable candidates stay on provide. The extremely anticipated first quarter ‘spring’ in recycling appears delayed till Spring (and sure past).
“Moreover, even though India has been the busiest through 2024 thus far (thanks to the slew of MSC containers that were concluded to a select number of HKC yards), volatile local steel plate prices and the Indian Rupee have left Alang Buyers with tentative sentiments and the lowest sub-continent levels on offer.”
For week 6 of 2024, GMS demo rankings / pricing for the week are:
