Athenian Shipbrokers SA Ship Recycling Weekly Report

Following a virtually inert 2022 and a slightly busier start to 2023 at the various recycling destinations, much of the Far East was off celebrating Chinese Lunar New Year holidays this week and it has expectedly been a quieter period – in terms of sales and activity. A larger number of container vessels have so far been sold for recycling at the start of the year, and we are beginning to see signs that older dry bulk vessels with surveys due may follow suit in the near future as well. ...

Athenian Shipbrokers SA Ship Recycling Weekly Report

A degree of increased positivity has entered recycling markets this week, as prices push on in both India (off the back of firming steel and settling currencies) and Bangladesh (off of a rising demand and a currency that has recently found its stability around BDT 105). In fact, a number of sales have reportedly even taken place at increasingly firm numbers, giving Ship Owners a greater sense of confidence to offer their recycling candidates up for sale, especially after an altogether bleak 2 quarters. Financing problems persist in both Bangladesh ...

Athenian Shipbrokers SA Ship Recycling Weekly Report

Markets seem poised for some sort of recovery as steel prices inch up again (especially in India and Pakistan) and currencies seem to find a newfound acceptance at historic lows across the major recycling destinations, after what has been a bitterly silent 2022 full of declines and falls. Financing remains of chief concern in both Bangladesh and Pakistan, with very few end users capable of opening fresh L/Cs on the import of vessels, although some are getting on by with private financing, which usually means and usance (rather than sight) ...

Athenian Shipbrokers SA Ship Recycling Weekly Report

As we reflect on the year gone by and look forward to a busier and healthier 2023 for the various recycling destinations, 2022 has been the lowest year for more than a decade across all ship recycling locations. All freight / dry sectors started to fly simultaneously at various points during 2022 and even the wet / tanker markets started rallying thereafter, and with stunning results. However, Container and Dry Bulk markets finally started to cool off towards the end of the year, and it is from these segments that ...

Athenian Shipbrokers SA Ship Recycling Weekly Report

As we close out another year, sub-continent markets remain suspended at their weakest point for some time now. Pricing remains firm (given the historical price average has been around USD 350/LDT or so), but sentiments and conditions on the ground across all locations remain somewhat precarious. While Bangladesh has been the main proponent of such concern – given the ongoing financial crisis that has resulted in the Bangladeshi government restricting the sanctioning of new Letters of Credit (L/Cs) for even the smallest purchases of USD 1 million and below – ...

We’d like to start out by wishing our readers a “happy new year”. Although no one can predict the future, it is helpful

Athenian Shipbrokers SA Ship Recycling Weekly Report

Prospects for steel companies remain gloomy in Europe due to high and volatile energy costs, the looming

As sub-continent markets veer through the last couple of weeks towards the end of the year, we can look back and reflect on what has been an extremely turbulent 2022. Prices reached decade long peaks above USD 700/LDT in the first quarter of the year before crashing back down by about USD 200/LDT, with certain trades seeing below the USD 500/LDT barrier and even into the high USD 400s/LDT on certain occasions. On the West End, the situation was no different in Turkey, where levels too hit a record USD ...

Athenian Shipbrokers SA Ship Recycling Weekly Report