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Markets > Market Reports > Demolition > Rates continued to firm this week... Archive:
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Rates continued to firm this week...

21 January 2013

Rates continued to firm this week, with some pretty aggressive numbers being tabled. Meanwhile, with more vessels being circulated in the market this week, a higher rate of sales are anticipated in the forthcoming weeks.

The main benefactors in this current climate are owners who are in a position to sell their available tonnage to cash buyers at levels supposedly not matched from the actual breakers. As such, the pure speculative stance from cash buyers remains evident, which could obviously spell danger on delivery. There are reports that a resistance is developing from breakers to purchase tonnage from cash buyers at levels close to what the cash buyer had previously paid for. Thus many vessels may arrive at the anchorage at the recycling yards but would remain unsold internally.

Owners should consider that these over-inflated markets can come down as quickly as they go up and thus the quality of the buyer is a very important issue in order to avoid any lengthy and difficult discussions at the time of arrival at the delivery anchorage.

© Clarkson Research Services Limited 2014