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Demolition report dated 20 November 2020

23 November 2020

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.

Demolition report dated 13 November 2020

16 November 2020

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.

Demolition report dated 30 October 2020

16 November 2020

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.

Demolition report dated 06 November 2020

16 November 2020

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.

Demolition report dated 23 October 2020

26 October 2020

As we approach the final months of the year, the Indian sub-continent recycling destinations have settled into a steady (but positive) pattern in the mid-to-high USD 300s/LDT, with some speculative positions still being taken by various players once vessels start working firm, primarily due to a distinct lack of available tonnage at present. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

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 9 October 2020

12 October 2020

After a period of turbulence and uncertainty, Indian subcontinent sentiments and prices appear to have turned somewhat this week, as Cash Buyer speculation seems to have reentered the market on select available vessels once again. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 2 October 2020

05 October 2020

After a stunning surge in the third quarter of the year that saw much of the losses incurred due to the pandemic reversed, the markets appear increasingly set for an upcoming correction in the near future. 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 September 2020

28 September 2020

The prominent news this week centered on the formation of yet another cartel in Bangladesh, which is another attempt by a handful of powerful local Recyclers to try and secure vessels at controlled, below market 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 18 September 2020

21 September 2020

Following the catastrophic falls of around USD 150/LDT during the second quarter of the year and with all subcontinent markets now securing tonnage at increasing numbers of late, the 2020 subcontinent recovery seems nearly complete. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.