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Demolition report dated 14 December 2018

17 December 2018

Markets appear to have settled approximately USD 25/LDT below the peaks seen in October, and at last, offers from the various subcontinent locations seem to be emerging once again – albeit primarily for smaller LDT candidates on offer, given that L/C problems in Bangladesh (and now India) are still an issue. The supply of containers persists at a furious rate and along with the beleaguered tanker sector, end Buyers should remain busy with fresh offerings, right up until the end of the year (and more than likely, well into Q1 2019).  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 May 2018

22 May 2018

After a bumper week of sales, things certainly slowed a touch this week with just the one VLCC sale to report, as the number of VLs already committed through 2018 steadily creeps towards 30. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 4 May 2018

08 May 2018

The announcement of the closure of the Chinese ship recycling market for international flag tonnage from January 2019 has caught many in the industry by surprise last week This has caused prices to sharply spike as local Buyers look to import whatever vessels they can before activity on this front is culled. 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 November 2018

20 November 2018

This week saw some softening in the bullish Bangladeshi market, which finally succumbed to some inevitable weakness after a stellar showing at the start of the fourth quarter, mixed in with a declining local steel plate - last week’s bevy of local fixtures and this week’s beachings notwithstanding. 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 November 2018

22 November 2018

Markets fully progressed into “bear” territory this week, with sentiments weakening and end Buyer offerings subsiding by the day. Expectedly), Cash Buyers are now struggling to offload their expensive inventory at anywhere near breakeven levels and it seems as though end Buyers are starting to smell “blood in the water”. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.

Demolition report dated 7 December 2018

07 December 2018

Ship recycling markets remained stretched this week – both with the supply of pricey unsold Cash Buyer tonnage, as well as local offerings that seem to be arrowing downwards. However, there have paradoxically been a number of fresh deals this week, not only at lower overall levels, but also a few spectacularly priced fixtures of specialist vessels, as owners remain determined to shed some of their aging tonnage before the year-end. The weekly demolition report by GMS, provides an overview of the demolition market, price by scrap yard location and ship type.