GMS Week 20 – CONFUSION REIGNS!
Whilst the various recycling destinations remain far from fully open today, the anticipation of subcontinent markets opening within the month / before June has once again motivated Cash Buyers to take speculative positions and commit vessels at some firmer levels over the recent weeks.
It is true that there have been some easing of restrictions in both India and Bangladesh, however, there are still restrictions on vessels arriving both locations with foreign crew onboard, in addition to domestic crew flying overseas for ‘as is’ take overs, as all international flights in and out of the subcontinent markets are still grounded at present.
There may be further easing of restrictions in the coming week(s) on international tonnage, however, for now, only those vessels that have received special exemptions and have domestic crew on board are being allowed to beach in India and Bangladesh.
India is allowing ships with Indian crew to beach whilst anchoring and beaching permissions are not being granted for vessels with international / foreign crew for the time being. The same is true in Pakistan and Turkey as well.
In Bangladesh, foreign crew cannot disembark without getting special permissions from the police and immigration departments and this is causing some confusion for those vessels that have arrived locally and are waiting to beach for some time now.
For week 20 of 2020, GMS demo rankings / pricing for the week are as below.