Demolition report dated 1 February 2019

The week before Chinese New Year has finally brought some semblance of stability, to a ship recycling market that seemed to be in freefall over the previous month. Indeed, most Cash Buyers have been struggling to offload their existing overpriced inventories at anywhere near sensible / breakeven levels, resulting in something of a panic as a majority of these vessels are now headed to the only bullish market (Bangladesh), in the hopes of salvaging whatever little could be financially scraped out of a deal. 

The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.


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