Athenian Shipbrokers SA Ship Recycling Weekly Report

The degraded performance across the ship recycling sector over the last few (and painful) months shows few signs of abating just yet, as it has been a veritable tale of misery, even though prices remain at some of the firmest levels we have seen over the last decade. Down from the peaks of $700/Ton, levels nearly USD 100/LDT lower have left a bad taste in most mouths in the industry. Certainly, the last time prices crashed from the psychological USD 700/LDT barrier was back in 2008, when even USD 800/LDT ...

The landscape of ferrous scrap supply and demand is dramatically shifting due to the ongoing geopolitical shocks

Athenian Shipbrokers SA Ship Recycling Weekly Report

All of the major global recycling markets remain in turmoil for yet another week, with very few offers forthcoming (matching the near invisible number of units currently available for recycling), in addition to an utter lack of confidence from Recyclers across all locations that any sort of recovery is quite clearly not in the ropes anytime soon. There is the ongoing excruciating reminder that there are virtually no candidates to work on, as most Ship Owners are abstaining from recycling vessels from their aging fleets that have surprisingly found profitable ...

The Ship recycling industry stands as confused as the world economy right now

Athenian Shipbrokers SA Ship Recycling Weekly Report

Following the recent drastic falls – which have seen almost USD 100/LDT wiped off prices – the ship recycling industry in the Indian sub-continent seems to be taking a bit of a pause, as End Buyers remain less than confident to offer any firm prices with certainty. Adding to the frustration is the minimal number of candidates currently available to work on, such is the bullish state of all freight sectors. Accordingly, we may see a prolonged summer / monsoon lull across all sub-continent recycling locations. On the West end, ...

Steel prices continue to correct worldwide, leaving ship recyclers in a state of confusion as they are not able to provide a firm offer

Athenian Shipbrokers SA Ship Recycling Weekly Report

After the recent falls sustained across all sub-continent recycling markets, there does seem to be a new floor in the low USD 600s/LDT that has been reached, which seems to be the price point where Recyclers feel increasingly comfortable offering at. As expected, there have been instances of opportunistic offerings below the USD 600/LDT mark. However, very few sales (if any) have taken place in the high USD 500s/LDT, as there remain virtually no potential units to offer to Recyclers at these lower levels. If any new sales do take ...

The Ship Recycling market remains motionless with barely any activity being witnessed due to lack of tonnage being offered

As sales dry up into sub-continent markets due to firming freight rates and plummeting vessel prices, the industry is (once again and expectedly) entering a lull, especially as the traditionally quieter summer / monsoon months descend. At this time, we do not anticipate Ship Owners or Cash Buyers to offload any of their inventories (if vessels are even available) at these reduced rates and End Buyers still remain reluctant to commit units at any firm numbers being demanded, such is the volatility in the market at present. There have not ...

The Ship recycling market remains in limbo for yet another week as both the owners and the end buyers are holding back

Athenian Shipbrokers SA Ship Recycling Weekly Report