shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Ship Demolition Activity Finding It Hard To Recover

Ship Demolition Activity Finding It Hard To Recover

by Joshua
October 25, 2020
in Uncategorized

Ships’ recycling has taken a turn in favor of ship owners, as scarce tonnage has forced yards to compete for tonnage, leading to higher prices. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “a new week but unfortunately this did not relate to a fresh deluge of tonnage for Buyers to ingrain themselves into and instead has meant that those vessels that have been circulated, have received positive competition resulting in each sale raising eyebrows to the benefit of Owners as price levels continue to remain firm and bubble just below the USD 400/per ldt mark in India and Pakistan. This is another situation to watch closely as the respective recycling destinations tussle for the market tonnage and increase their prices accordingly, often if Indian Buyers like a specific type of vessel they will pay whatever is needed to obtain it, but certainly indications from the Indian recyclers have narrowed towards the rates from Pakistan”.

According to Clarkson Platou Hellas, “interestingly, the Bangladesh Cartel has lasted yet another week as it tries to control the sharp price increases in the market and create a level playing field. Although with India and Pakistan being more attractive at present, they will soon need to increase their threshold to remain competitive and refrain from losing too much tonnage to its neighbouring counterparts. In Turkey, prices continue to maintain some common ground as they too are starting to see the number of available units for them diminish in the market, creating an ultra-competitive market place for any Owner with tonnage in the Mediterranean or North Continent. However those yards that have obtained EU approval are continuously bogged down with approaches and are now finding themselves fully booked for even Q1 of 2021, unless yards are given approval by the end of the year to ease capacity in the region”, the shipbroker concluded.

In a separate report this week, GMS (http://www.gmsinc.net/), GMS said that “the world’s leading cash buyer of ships, said thatAfter weeks of uncertainty following the formation of a cartel in Bangladesh and the ongoing volatility in competing markets (i.e. India & Pakistan), subcontinent prices finally appear to have somewhat settled this week. As the troublesome winter months approach and Covid-19 cases continue to rise across the globe, the focus has once again fallen on Europe where second spikes are being witnessed. In many areas, more cases and hospitalizations are being reported than before the lockdowns began in March – April time, in further concerning developments over the recent past. Markets therefore remain somewhat on edge, as the seemingly unending search for a vaccine goes on and the economic fallout from the first round of lockdowns continues to be felt worldwide”, the shipbroker said.


Related Posts

Despite ₦5.17trn Surplus, Dollar Dominates Nigeria-China Trade As Naira-Yuan Swap Struggles

Despite ₦5.17trn Surplus, Dollar Dominates Nigeria-China Trade As Naira-Yuan Swap Struggles

June 30, 2025
Meningitis: Death Toll In Kebbi Hits 56 – Govt 

Meningitis: Death Toll In Kebbi Hits 56 – Govt 

March 24, 2025
Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

Navy Rescues 8 Police Officers,1 Civilian From Boat Accident In Bayelsa

January 8, 2025
PHOTO NEWS: SIFAX Thanksgiving and Night of Praise 2.0

PHOTO NEWS: SIFAX Group Thanksgiving and Night of Praise 2.0

December 18, 2024

Discussion about this post

Latest News

Aliko Dangote Submits Paperwork To Build Nigeria’s Largest Seaport In Ogun

Nigeria Ramps Up Campaign for IMO Category C Seat, Showcases Maritime, Aviation Potential on Global Stage

July 15, 2025

WCO Chairmanship: Afam Chukwuma Hails Adeniyi’s Appointment as Major Boost for Nigeria’s Customs and Economy

Aliko Dangote Submits Paperwork To Build Nigeria’s Largest Seaport In Ogun

Nigeria Customs Boss Extols Late Buhari’s Legacy Of Discipline

Vessels Expected At Lagos Ports As At 14th July, 2025

Duty-Free, But Not Trouble-Free: Mixed Reactions Trail UK’s Trade Window For Nigerian Exports

At Last, Lekki-Epe Corridor Stakeholders Agree On August 1st Enforcement Date For E-Call-Up 

Nigeria Losing Billions To Boat Importation As Indigenous Operators Urge Local Shipbuilding Drive

Court Ruling Against CRFFN’s Regulatory Powers Tears Customs Brokers Apart   

Oyetola Reaffirms Commitment to Logistics Reform, Commissions Zenith Carex HQ

Let the Council for the Regulation of Freight Forwarding in Nigeria Breathe

MONDAY INTERVIEW: “70% of the crew of Ocean Dragon are Nigerians”— Mrs Bernadine Eloka 

kindly like our Facebook page

Health

The Usefulness Of Watermelon Seeds You May Not Know
Health

The Usefulness Of Watermelon Seeds You May Not Know

July 14, 2025

Watermelon is one fruit that’s hard to resist when it gets too hot. It’s sweet and is high in water...

KNOW YOUR BODY PARTS: THE HEART

KNOW YOUR BODY PARTS: THE HEART

June 30, 2025
Why Your Favourite Seasoning Cubes May Be Hurting Your Kidneys

Why Your Favourite Seasoning Cubes May Be Hurting Your Kidneys

June 30, 2025
Contraceptive Pills Can’t Cause Cervical Cancer – Expert

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025
ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition