By logging on you accept our
With the festive holidays approaching, some cash buyers appear to be entering into the Christmas spirit by offering speculative numbers without any justification locally. Thus some owners continue to benefit. Perhaps these cash buyers have a crystal ball or are acting on impulse, or the knowledge that January has historically seen some higher rates. However, with the continuing large supply of tonnage to the market, it remains to be seen whether these speculative numbers will bear fruit for the buyers.The Indian steel markets are somewhat stable but the yards are full to their core; an enormous volume of tonnage arrived over the last few beaching tides. How much more the breakers can take in the near future remains to be seen. With so much choice for the buyers, some units are finding it difficult to attract any interest. Chinese buyers have again resurfaced with enquiry again evident but mainly for the North Chinese yards. Price levels on offer may again deflect those vessels open in the Far East away from the Indian sub-continental markets.