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Tanker Shipping - Strong demolition prices and volume supports an uneventful market looking forward

17 June 2014

Demolition prices have been on the rise since late last year and recently reached the same high levels seen in the beginning of 2012. In two of the major demolition markets, India and Pakistan, the positive development started around October 2013 after a year of more or less status quo. In China, also a large market for demolition, development has been the opposite, with slowly declining prices since the beginning of 2013.

Demolition report dated 15 September 2017

18 September 2017

The gulf in prices between the sub-continent markets finally started to tell this week, as Pakistan pulled ahead of its regional competitors, with a stunning show on prices on any available dry units.  The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 29 September 2017

03 October 2017

As September draws to an end after the recent remarkable rally in prices, all sub-continent locations are now displaying an increasing resistance to the firming levels and except Pakistan (to an extent), both Bangladeshi and (especially) Indian end-buyers are starting to reverse their prices. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 5 April 2019

08 April 2019

With a previously beleaguered Pakistani market starting to return to a firmer footing last week, it seems we may soon have all of the sub-continent markets firing on and keen to buy before the monsoon season sets in towards the end of May.  The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 31 August 2018

04 September 2018

Following the conclusion of Eid holidays, unlike Turkey, in Pakistan and Bangladesh, this week, prices and demand started to improve with some frisky numbers being promptly put forth by bullish Cash Buyers who are already confident of a market returning to form.  The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 23 August 2019

26 August 2019

Despite the conclusion of Eid holidays and the ongoing shortage of tonnage in the market,subcontinent locations (especially India and Pakistan) remain stranded around the mid USD300s/LDT mark. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 13 April 2018

17 April 2018

With Pakistan yet to reopen its beaches for tankers, the ongoing delays are further ramping up anticipation and pressure as each new delegation and meeting between the PSBA and government officials yields no results, despite the fact that only one final signature is remaining / required to reopen Gadani’s shores for tankers and finally put an end to this saga. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 25 May 2018

29 May 2018

Having taken in a majority of the larger LDT (wet) tonnage from unsold Cash Buyer inventories since the market reopened for tankers, Pakistan finally started to cool off this week as the few open Buyers presented far less aggressive numbers on proposed units. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 18 October 2019

21 October 2019

Following a brief few weeks of positivity, subcontinent markets are once again embarking on a dispiriting downwards descent, with End Buyers withdrawing their offers amidst declining levels from India, Bangladesh and Pakistan. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.