Athenian Shipbrokers SA Ship Recycling Weekly Report

After the announcement by the Indian government that they would reduce export duties on iron ore and steel products, the Alang market surged by Rs. 4,000 (about USD 49) in a single day, only to come crashing down in subsequent days to the tune of USD 50/Ton by the time the weekend had arrived. In the midst of this surge, there was one Capesize Bulker sold for HKC / strictly green recycling into India, and it is hoped that some stability on prices will be found in the week(s) ahead. ...

Athenian Shipbrokers SA Ship Recycling Weekly Report

All recycling destinations across the Indian sub-continent and even Turkey have been suffering a prolonged and agonizing malaise over the past six months (at least), one that’s showing no sign of abating any time soon. In fact, prices have deteriorated even further this week at all sub-continent locations and receiving indications / offers – even in the USD 400s/LDT on small LDT units – is gradually becoming a reality. As such, any Ship Owner expecting some of the better levels (even from last week) will have to readjust their expectations ...

Athenian Shipbrokers SA Ship Recycling Weekly Report

The decline of the sub-continent markets came into stark view once again this week, with even vintage tonnage being returned to trading lanes, such is the ineptitude and reluctance of collective sub-continent recyclers to commit on the paucity of any available units, at anywhere near sensible numbers. Reliability and workable L/Cs remain a key concern for Cash Buyers and Ship Owners alike, with Bangladesh all but limiting new arrivals as the Central State bank refuses to sanction any fresh financing for ship recycling endeavors. Reportedly, only essentials (such as food, ...

Athenian Shipbrokers SA Ship Recycling Weekly Report

Some unbelievably low and unrealistic offers have started to emerge from sub-continent markets this week, and as

Activity and action remain sparse across all recycling destinations, with very few (market) sales to speak of, including minimal firm interest or serious numbers from End Buyers that may tempt Owners / Cash Buyers to engage in any meaningful negotiations.

Global steel prices are experiencing a downward pull due to plummeting demand from the end-user industries. Despite the ongoing volatility in

The world finally gathered this week at the Tradewinds ship recycling conference in Dubai, for the first time in three years due to the onset of the pandemic.

Athenian Shipbrokers SA Ship Recycling Weekly Report

Any vessels that were made available over the past few weeks have swiftly been withdrawn as recycling markets show an ineptitude to offer any sort of serious numbers, having seemingly forgotten how to buy ships after a prolonged period on the sidelines. Consequently, there have been no market sales for another week, especially as freight markets continue to impress across all sectors and recycling markets remain unchanged, depressed, and starved of tonnage all at once. Constant currency depreciations have been the chief culprit and there seems to be a lack ...

Steel prices worldwide are under pressure due to the alarm bells ringing for a possible recessionary phase in most regions. In the ship

Athenian Shipbrokers SA Ship Recycling Weekly Report