Ship Breaking: Prices are on the Rise Again

In its weekly report on ship recycling, GMS reports that after the brief lull, levels have spiked in the sub-continent once again last week, pushing above $600/LDT on most available units once again.

According to GMS, the current diet consists primarily of tankers and offshore vessels, such has been the strength of the dry bulk and container sectors for much of this year.

The volume of tonnage seems to be increasing toward year's end, with many owners seeing these reinvigorated numbers (at and above $600/LDT) as the ideal opportunity to cash in, particularly in the 'wet' sector.

The biggest news of the week came from Bangladesh and Turkey, where both markets surged this week. In Bangladesh, off the back of firming steel plate prices and after a period of decline that saw many local offers fall below $600/LDT, the markets saw price and demand come soaring back to the highest levels in the sub-continent once again.

GMS demo rankings / pricing for the week are as below.