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GMS weekly report on Turkey ship breaking industry for WEEK 34

Despite a (relative) dearth of available tonnage and a Turkish Lira that has continued to weaken over the course of a month (against the U.S. Dollar), prices for ships stayed stable with a few over-eager buyers still offering above the market, to try and take in an odd unit or two, to keep their yard running.

Additionally, it was being reported that a marginal increase in availability of smaller LDT tonnage from the Black sea was attributed to fluctuating trade activity in the area.

As a result, while Turkey remained out of focus of the international arena, a different avenue for (regional) tonnage has opened up for them.

For now, local recyclers seem to have a temporary reprieve from the month(s) of tonnage starvation that local yards have been suffering from.

Source – GMS Weekly

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