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GMS weekly report on Turkey ship breaking industry for WEEK 33

Scant availability of scrap tonnage continues to keep the Turkish market out of the headlines for the most part. This dearth of vessels has driven desperate yards to venture out and hunt for vessels on their own.

As a result, a lot of the tonnage that has been arriving the shores of Aliaga of late, has been as is deals concluded by the yards or undertow vessels that were too expensive to deliver to the sub-continent markets.

Meanwhile, demand for tonnage remains hot as ever, even though the Turkish Lira has been gradually declining against the US Dollar over the course of last month. This now poses its own challenges to the local buyers who have been offering firmer levels for the few units on offer, while facing increasingly expensive vessels in the process of doing so.

The present remains a challenging time for the Turkish recycling market.

Source – GMS Weekly

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