While the lingering tariffs on steel imports into the U.S. hang in the balance, steel plate prices across the Indian sub-continent continued to display volatility, reports cash buyer GMS.“While charter rates in
While the lingering tariffs on steel imports into the U.S. hang in the balance, steel plate prices across the Indian sub-continent continued to display volatility, reports cash buyer GMS.
“While charter rates in the dry segments certainly impressed, a recent influx of large(r) LDT wet tonnage (four LNGs) and even a VLOC that was recently sold for recycling certainly captured the attention of the ship recycling fraternity, despite the deteriorating levels due to the ongoing global economic turmoil and ensuing market volatility that has culminated on the back of inconsistent U.S. policies.
“And with the aforementioned tariffs on steel imports still looming large, the ship recycling industry can almost certainly expect a knock-on effect on recycling offers in the coming weeks,” says GMS.
India is expected to react most negatively to the news, compounding the already destitute state of offerings from Alang recyclers, which have fallen about 5% over the last month or so, as local steel plate prices maintain an overall downward trajectory over recent weeks.
The situation in Bangladesh is similar as Hong Kong Convention yard upgrades now take center-stage and continue at pace. “However, with local capacity diminishing along with the number of open and HKC-approved Chattogram
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