The Covid scourge continues to afflict India with cases now breaching a record 320,000 per day and deaths approaching nearly 3,000 per day, as hospitals turn away patients and oxygen supplies are starting to run out. The world of shipping and ship recycling of course takes a back seat during this difficult time, with recycling yards shut as any available oxygen in the country is presently being diverted to battle the virus. Steel prices have started to cool off since, as product fails to shift from local yards and there ...

The ever-growing demand for steel and lack of tonnage supply is pushing the prices to greater heights week on week

Although the cases of COVID-19 increased in sub-continents, the market remained steady for one more week

The increasingly growing concern this week has been the number of mounting Covid-19 cases across the sub-continent, especially in India, where the country hit a daily record infection rate of over 200,000 cases per day, placing an increasing pressure on an already strained healthcare system that is fighting to keep up with the number of sick. There is talk in India of another nationwide lockdown, as only the worst hits states / provinces are under quarantine at present, with residents urged not to leave their homes and further limited working ...

The market has remained steady despite the surging COVID-19 cases and the traditional slowdown during the holy month of Ramadan

During last week the market remained steady even though both Bangladesh and India had extended their lockdowns for one more week

The nationwide lockdown in Bangladesh has been extended until the evening of April 13th as Covid-19 cases continue to worryingly escalate in the country, whilst Bhavnagar on the other side has also imposed a curfew of its own, following the lockdown imposed in the state of Maharashtra (where Mumbai is) last week, possibly affecting the international departures of incoming crew. Getting vaccines administered to the bulk of the population across the sub-continent could not come quickly enough as ICU units are starting to fill up once again as cases continue ...

The subcontinent market is clouded with uncertainties arising from spike in coronavirus infections and extension of lockdown measures

During past week several deals were reported, however it was announced a 7 days lockdown in India and Bangladesh

Rising Covid-19 cases across the sub-continent have led to further lockdowns in a number of countries, especially as certain areas (as seen recently with much of Europe) suffer from, what now seems to be a third wave of the virus, despite the increasingly positive impacts being reported from the rollout of the various vaccines globally, in addition to the lockdowns. Even the Turkish market is reporting an exaggerated number of infections and fatalities of late, with the Turkish government considering drastic actions to curb the rising spread. As a result, ...

Last week Ship recycling market saw a lot of interest and subcontinent players engaged firmly to take advantage of the momentum

Several large LDT sales have taken place this week, as Owners dip in to take advantage of the red hot sub-continent markets of the moment. Almost all of the locations saw some activity this week (market and private), with India even getting in on the act (despite being the lowest placed sub-continent market) with one high-priced stainless-steel tanker purchase registering for the week. With abysmal rates persisting across the sector, VLCCs and FSUs seem to be the types of units mostly in the firing line at present, whilst dry bulk ...

Last week Ship recycling market kept its upward course with signs of further improvement in the three sub-continent markets

Markets have fired up once again this week, particularly in the impressive Bangladeshi market, which continues to outshoot

Generally last week the market continued to improve, levels remain attractive for Sellers with Bangladesh experiencing