Demolition report dated 25 August 2023

The ongoing complications experienced in the Indian sub-continent ship recycling markets have shown few signs of dissipating this week, with a sudden increase in the unrelenting non-existent supply of vessels and sparse L/C / financing approvals in Bangladesh and Pakistan, which has seen market pricing that is reaching new lows with each concurrent sale into the sub-continent destinations. 


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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