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Despite End Buyers talking markets down, deals continue to be done at ever more impressive numbers, as Cash Buyers keep prices on select units propped up, with increasing hints of levels breaching the USD 400/LDT mark. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
After exactly two months in operation, the cartel in Bangladesh has finally come to an end and End Buyers are free to offer their own prices, rather than relying on the lottery system / below-market prices on offer from the cartel, that saw them secure nearly no vessels during their relatively short-lived existence. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Following further bad news concerning the rapid and continued spread of Covid-19 in the Western world, leading to yet more lockdowns across Europe and other areas around the world, a momentous week lies ahead with the upcoming U.S. Presidential Election and its potential repercussions that could also be felt the world over. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
Markets remain in a curious state of stasis, as the final confirmation on the U.S. election victor (leaning towards Presidential hopeful Joe Biden) and further lockdowns across Europe threaten any end-of-the-year momentum / recovery that were starting to build. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.
