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GMS weekly report on China ship breaking industry for WEEK 34

A number of smaller general cargo units and reefers many from Far East Russian owners began to open in the area as possible demolition candidates.

However, with Bangladesh emerging post-Eid again, Chinese buyers may miss out due to a price gap that stands at almost USD 200/LT LDT (as it has done for much of this year).

Government controlled candidates from the likes of Cosco and China Shipping continue to keep yards active and supplied with well priced tonnage (eligible for those infamous state subsidies that have dominated the China market this year).

With October holidays upcoming in just over one month, very little will be disrupted in the Chinese ship recycling markets as activity on international tonnage (except the odd strictly green candidate positioned in the area) remains at a minimum.

Source – GMS Weekly

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