Old ship scrapping activity continues to be subdued as ship breakers in the Indian Subcontinent with well-stocked inventories continues to cherry-pick for scrap candidates.
On the other hand, Clarkson Research Services says, "There is again demand from China, which is encouraging as this can often create healthy competition in the market."
Chinese scrap prices also jumped this week by some $20 per ldt.
“While the Bangladeshi market remains difficult at the moment, the Chinese offers now on the table may just give owners food for thought for their tonnage finishing in the Far East,” Clarkson added.
Scrap rates in the Indian Subcontinent remained in the low $400s for dry tonnage, with Chinese rates still lower by around $100 per ldt.
Published : October 4, 2012
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