Ship Scrap Recycling
While the recycling industry
seemed to witness some activity surfacing from the sub-continent markets last
week, this week turned into a currency frenzy in both, Bangladesh and Pakistan,
as the summer of minimal activity and sales seems as though it will sluggishly
drag on.
Both locations reportedly
experienced a sharp decline in their domestic currencies within the week,
leading to more confusion & caution in the sub-continent and this could
take a week (or more) of a ‘watch-and-wait’ attitude to see where post-currency-crash
vessel pricing will eventually land.
It was the Indian market
that remained the only (sub-continent) recycling destination where demand and
fundamentals remained ironically stable through the course of the week, despite
the ongoing (domestic) plate price volatility that has beset itself as an
enduring reality.
West end of things, the
Turkish market suffered another decline in local plate prices this week,
ensuring local sentiment remains disinterested & depressed and would
seemingly remain so, for some time ahead.
On the supply side, even as
dry bulk charter levels cool off, the industry has still not witnessed a deluge
of dry units being introduced for recycling, despite a collection of 90s built
units that are still operating on various trades and this is where much of the
supply is expected to come from as we head into the fourth quarter of the year.
There is also the
expectation that containers will return for recycling at some stage, as charter
rates have also come off from some of the historical highs seen over this
latest bull run.
As such, the question as to
whether it may be as busy an end to the year is up in the air, at least until
pricing chart below eventually re-adjusts to the new realities on the ground.
For week 37 of 2022, GMS demo rankings / pricing for the week are
as below.
Demo
Rank |
Location |
Sentiment |
Dry
Bulk USD
/ LDT |
Tankers USD
/ LDT |
Containers USD
/ LDT |
1 |
Bangladesh |
Weak |
570 / LDT* |
580 / LDT* |
590 / LDT* |
2 |
India |
Weak |
560 / LDT |
570 / LDT |
580 / LDT |
3 |
Pakistan |
Weak |
550 / LDT |
560 / LDT |
570 / LDT |
4 |
Turkey |
Weak |
240 / LDT |
250 / LDT |
260 / LDT |
To read the remainder of the report please visit GMS WEEKLY,
Other News
Copper slips on gloomy demand prospects ahead of Fed rate decision | Kitco News
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.