“An extremely volatile week of tariff announcements, suspensions, mishandling of economic affairs and fluctuating markets has left Indian sub-continent ship recycling destinations on edge, fearful of the next moves by a seemingly
“An extremely volatile week of tariff announcements, suspensions, mishandling of economic affairs and fluctuating markets has left Indian sub-continent ship recycling destinations on edge, fearful of the next moves by a seemingly irrational and aggressive Trump regime,” reports cash buyer GMS.
“Reportedly, Trump’s tariff backtracks erupted on the back of a massive sell-off of U.S. Treasury Bonds (the Gold standard of currency for the U.S. Federal Government) from the Japanese market that caused the Team Trump to panic, resulting in his administrations erratic actions through this week. For the sub-continent ship recycling markets, however, the key driver will be just how hard steel prices / non-ferrous steel trade will be hit when it comes time for ship-recyclers to sell their product.”
Although the 90-day suspension seems to have given recyclers some reprieve for the time being, the deadline realistically stands a mere quarter away, says GMS.
“Global trade markets too continued to take a dunk in the tariff pool as freight rates cooled, although they did even out towards the end of the week and report minor gains. What comes of this dip in rates remains to be seen since no fresh tonnage has made its way onto the bidding
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