Sub-continent markets continue to fire on during the summer / monsoon months, as firmer steel plate prices and an increasing lack of available tonnage has invariably pushed sub-continent offerings on to previously unthinkable levels.Not since the boom year of 2008 have we seen levels quite so high, and as the mythical $600/LDT draws ever closer
Dr. Anil Sharma, CEO and founder of GMS, is a dominate player in the world’s ship recycling business. MR TV caught up with him in late June 2021 for insights on the pace and direction of ship recycling activity and pricing.Dr. Sharma, to start, can you give us an overview of the ship recycling market as you see it today?Thank you, Greg. Let's start with prices because that's the news of the hour.
Dr. Anil Sharma is a wealth of knowledge on ship scrapping, having started GMS 25 years ago, getting into the business of buying and disposing of old U.S. MarAd and Russian navy ships as a sideline while teaching as a college professor in Maryland. Today his company is dominant in the field, and in the last year he has seen an unprecedented 70% run up on ship scrap prices
Hawboldt Industries installed an ABB winch drive with in-built active heave compensation (AHC) software at the heart of a new winch and offshore crane for the research vessel Kilo Moana, giving University of Hawai‘i Marine Center scientists a reliable means of deploying water sampling equipment at depths up to 5,000 meters in even the roughest sea conditions.
How have major events such as the U.S./China trade war, oil price fall and COVID-19 impacted Twin Disc’s commercial marine business to date, and what adjustments have you made in response?These are the three things that I’ve been highlighting in employee communications and with investors over the last few months. For us, COVID was just the third punch after the other two.
Prices have settled into a new reality this week as end buyers get back to buying at levels just shy of the historical peaks seen this year, closer to (and in some cases, just over) $600/LT LDT from the market leaders, on high-spec units.It has been a phenomenal year for the sub-continent ship recycling markets thus far, which has seen prices more than double in the space of the last 12 months
Prices across the Indian sub-continent ship recycling markets continue their impressive upward trajectory this week, as end buyers press on for any available tonnage, at levels well above $600/LT LDT, especially in the case of Bangladesh and a now firming Pakistani market.The summer months have brought with them a relative paucity of units
Demo markets continue their upward trajectory this week surpassing the $600/LDT barrier on a number of select units. This may be due to a general paucity in the overall supply of tonnage over these quieter summer/monsoon months, while local steel plate prices have regained momentum of late, especially after stalling a few weeks ago.Just how much longer this momentum will last remains to be seen.
Far from the traditionally expected slowdown during the monsoon / summer months, sub-continent recycling markets fired on at pace once again this week, and a slowdown in the supply of tonnage of late is likely contributing to some overly aggressive offerings from hungry end buyers.
The ship recycling markets continues to perform well, according to GMS. The supply of tonnage remains primarily focused on wet and offshore units – particularly OSVs, FSUs, Aframax tankers, MRs and smaller bunkering tankers.In particular Pakistan has been leading the way with some of the best numbers on show (especially on choice units)
All eyes remain on the situation that is currently unfolding in India as each day brings with it record, numbers of Covid-19 cases & deaths as many hospitals across the country are running desperately low on oxygen supplies and vacant hospital beds.More than 400,000 cases are being registered every day now with well over 3
The increasingly growing concern this week has been the number of mounting Covid-19 cases across the sub-continent, especially in India, where the country hit a daily record infection rate of over 200,000 cases per day, placing an increasing pressure on an already strained healthcare system that is fighting to keep up with the number of sick.