Demolition report dated 28 June 2024

The Indian sub-continent ship recycling markets during the summer / monsoon months are the last place we’d suggest you look for guidance during these current times given that vessel prices are already down by about USD 20 – USD 25 / LDT and will have further declined by the time we reach the first half of July (as previously forecasted in the GMS WEEKLY), as Ship Owners & Cash Buyers are now chasing down a declining market on the back of a Ship Recycling communion that is facing exacerbating economic challenges of their own.


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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