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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 16 October 2020

19 October 2020

After weeks of uncertainty following the formation of a cartel in Bangladesh and the ongoing volatility in competing markets (i.e. India & Pakistan), subcontinent prices finally appear to have somewhat settled this week. 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 December 2020

21 December 2020

After a surge that saw the Bangladeshi market rise too fast too soon, in addition to some steady progress made from the firming Pakistani and Indian markets, sub-continent destinations seem to have finally settled down a touch, in the run up to Christmas / New Year’s. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 27 April 2018

01 May 2018

The long awaited news of the Pakistani market reopening for tankers finally became a reality this week, with the first sales and boardings of wet units likely to set up beachings by early next week - the first in 1.5 years. 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 January 2018

11 January 2018

 Risky business! With Pakistan still closed for tankers, we would urge Owners of wet tonnage to curtail their expectations on rates as the only option for their units remains India or a far more muted Bangladesh. 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 15 March 2019

18 March 2019

Markets remained under pressure this week, with very little change reported that could affect the status quo. As Bangladesh continues to fill up and gradually run out of keen & capable end Buyers, India continues to suffer extreme volatility in local plate prices and Pakistan rounds off the sub-continent markets while it rests out of the reckoning.  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.