Indian sub-continent ship recycling markets have been reflecting on what has been escalating on the international stage of late, reports cash buyer GMS. The company notes extremely turbulent effects emanating week after
Indian sub-continent ship recycling markets have been reflecting on what has been escalating on the international stage of late, reports cash buyer GMS. The company notes extremely turbulent effects emanating week after week from these markets — meaning it is becoming increasingly difficult to identify what price can be obtained for which type / LDT of unit and, most importantly, which buyer in which market would be willing to jump for the unit in question.
“As we await January’s inflation figures from the various destinations, the Baltic Exchange Dry Index managed to edge up a little more on Friday, helped by the smaller segments, while capes fell 0.2% and the panamax index declined by about 0.1%. Meanwhile, crude oil finally breached the awaited USD 60/barrel barrier and wrapped up the week at USD 60.92/barrel, rising nearly 7.3% over the last month but still dangling 16.81% lower than the same time a year ago.”
Meanwhile, the U.S. Dollar and local steel plate prices were on missions of their own this week as on the one hand, both India and Turkey continued to take in their share of the battering against the Dollar while on the other, local steel plate prices decided
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