Global Ship Breaking Offers in Week-30 : Improving

There was very little activity to be reported in the recycling market this week with the market being affected by the monsoons. The market is improving after being inactive from a long time.

•    The local government in Bangladesh decided to hold back the new tax reform for two years which in return boosted the market with improvement in prices (about 10%) and the buyers returning to the market.
•    Indian market started to improve after it remained silent last week as the buyers were thoughtful of trading.
•    Pakistan Ship Breaking market also showed minimal activity especially for the tanker sector. But, the prices moved up as compared to last week.
•    Chinese market saw an upward movement in the prices in comparison to last week.
•    Turkey market the prices went up marginally with minimal trading activity heard.

Global Ship Breaking Prices (in USD/LT) in Week-30

Source : GMS, Steelmint Research