The GMS Weekly Ship Recycling Report marks an incredible milestone as it celebrates its 1,000th issue this week!
Since being established in Cumberland, Maryland and starting out as one of the first ship recycling weekly news editorials in the industry during the Spring / Early Summer of 2002, the GMS WEEKLY has grown in stature and following, to become the industry standard and we thank all our readers for being a part of our distribution list!
We have seen markets rise and fall, ships bought and sold, regulations come and go, all whilst international awareness and focus on the ship recycling sector has greatly increased and yard quality improves (particularly in India but now starting in Bangladesh and Pakistan too) with the advent of the HKC.
As always, the recycling markets have provided plenty of talking points over the years, plenty of sales to report, and plenty of random facts to impart!
Here’s to the next 1,000!
Meanwhile, the sub-continent recycling markets seem to be traversing an undecided phase, where steel plate price volatility has been the key driving force behind the recent shakiness in the markets. This week, while Indian plate prices made some incredible gains as the week ended, both Pakistan and Bangladesh have reported declines of their own, whilst the Turkish market at the far end, wound up the week with a small improvement of their own.
We continue to see wet tonnage being proposed into the various markets, but no market sales have reportedly been confirmed yet, on the back of wavering levels from the market leaders (i.e. Bangladesh and Pakistan), where Owners are still trying to conclude units at last week’s levels.
As such, it has been a quieter overall week in the industry.
For week 40 of 2021, GMS demo rankings / pricing for the week are as below.
Source: GMS,Inc.