Recycling of the ship was subdued last week with a price of retreat
THe sent the recycling market still experiencing muted sentiments. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer said that in India, “The market remains relatively strong for most of this week, despite softening towards the end, reflecting some decreased price adjustments. Buying the time you want to see, even though the price has fallen slightly.
The overall activity remains careful but stable because participants adjust to the movement of this new -new price. In Bangladesh, the market has shown several movements, with buyers showing sharper interest to secure ships. Although the local market has not improved, a stronger purchase interest provides better market momentum. Sentiment gradually improved, supported by a stronger will than market participants “.
Source: Best Oasis
The best oasis added that in Pakistan, “There is still a good movement from the buyer, although the momentum is slowing down because of this new flood. Apart from this challenge, buying appetite remains intact, helping to keep the market supported. The overall sentiment is not in a place that is not in a place that is not in a place that is not in a place that is not in places that are not in places that are not in places that do not exist at this time.
In the same record, the Shipbroker intermodal noted that “the ship recycling market was subdued last week, with sentiment being muted in the main areas. Economic edge, currency volatility, and regulatory obstacles make buyers careful. Although there is a short push in the continuing sentiment. Transferred to a child’s competitor.
Source: Intermodal
Meanwhile, Pakistani Negara Bank maintains its benchmark policy level of 11% to contain inflation, while new floods have damaged agriculture and price increases for wheat, rice, and vegetables. The Bangladesh market remains slow, limited by the postponement of HKC approval and weak local demand. However, a stronger buyer’s interest injects careful momentum, gradually lifting market sentiment. The steel sector sees an increase in optimism, supported by an increase in demand. Political uncertainty continues to burden broader economic activities, with temporary administration not yet advance the main infrastructure projects. Apart from these challenges, simple improvements in sentiment show the potential for recovery in the coming months. Another flat week for the Turkish ship recycling market, with minimal changes. Weak local steel demand encourages the factory to reduce output. Meanwhile, Lira continued her shrinkage against the US dollar, reached the lowest position and increased pressure on the dynamics of the market, “the ship concluded.
Nikos Roussanoglou, Hellenic Shipping News worldwide
