Ship Recycling Market in Dire Straits
The demolition market has reached new lows this week, with scarce activity being reported. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “devaluations in all the currencies in the Indian sub. Continent have this week placed a heavy impact on the recycling industry with price levels noticeably taking a hit. All three destinations (Bangladesh/India/Pakistan) have witnessed further falls in price indications on the back of the current currency woes, in addition to a drop of the domestic steel prices. Reports suggest that any new vessel in the ...
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