Tag: Pakistan

On its latest weekly report, GMS highlights that anxiety and uncertainty reign across the Ship-owning community at large, especially for those with units trading in, or simply passing through the shipping lanes that are currently besieged by Houthi Rebel attacks in the Red Sea.

On its latest weekly report, GMS highlights that after what has been an overall miserable 2023 in the ship-recycling industry and even worse 6- month tail end of, 2024 seems to be off with just a little more hope and a chance at recovery as positive signs seem to permeate through the markets.

BIMCO announced that it welcomed Pakistan’s accession to the Hong Kong Convention. This is a significant milestone that effectively seals the loopholes and further strengthens the international ship recycling regime. 

On its latest weekly report, GMS finds that, as Diwali holiday celebrations concluded earlier in the week, Alang Recyclers seems to slowly be filtering back to work amidst declining plates prices, sentiments, and local offerings that remain stagnant.

On its latest weekly report, GMS finds that, markets remain precariously poised as Diwali holidays are finally upon the sub-continent markets and the industry heads into the final months of the 2023.

On its latest weekly report, GMS finds that, as they progressively approach Diwali holidays - inflation, fundamentals, currencies (except in India), vessel pricing, and overall weakening sentiments certainly seem to have beset across all of the sub-continent ship-recycling destinations (even Turkey to an extent).

On its latest weekly report, GMS finds that, even though this most recent decline in prices has not been as dramatic as some had feared, firmer offers may still be difficult to come by in the coming week(s).

On its latest weekly report, GMS highlights that, as deals continue to be concluded into Alang, the Indian ship recycling sector remains on a positive footing overall, with Pakistan and (especially) Bangladesh still lagging behind.

On its latest weekly report, GMS highlights that, nearly all of the markets have enjoyed somewhat of an upward resurgence entering the fourth quarter of the year, after a dire summer that saw over USD 100/LDT wiped off vessel recycling prices in the Indian sub-continent ship recycling markets. 

On its latest weekly report, GMS highlights that, despite the impending onset of various holidays at the recycling destinations, India remains firmly poised giving sub-continent markets a real boost over recent weeks and even as the industry heads into Q4 of the year.