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GMS Week 17 – TAKING TIME!

As the number of Covid-19 cases continues to rise across the globe, the expected / enforced lockdowns across all subcontinent markets have been further extended until May 4th at least.

However, there have reportedly been some small concessions made in India this week, as a select number of local recycling yards that have been actively practicing social distancing and ensuring protective gear is being provided to yard workers, are now being permitted to commence cutting activities slowly and responsibly.

This does not mean that India is open by a long shot as all flights are still grounded, foreigners are denied entry, and any vessels arriving Alang for recycling are not being permitted into port limits, with no boardings, beachings, and deliveries taking place yet.

The expectation is that things are going to move at a slow and methodical pace (until the virus is brought under control) across all subcontinent locations & Turkey and lockdown measures could well be extended further, as with many parts of Europe and Asia, where shutdown / quarantine measures have been extended until June 1st.

Finally, with the onset of Ramadan, countries celebrating the religious month are expected to remain out of the game for the most part, which may come hand-in-hand with the ongoing global quarantine and lack of any workable tonnage presently in the market.

For week 17 of 2020, GMS demo rankings / pricing for the week are as below.

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Source: GMS Weekly

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