Small container ships began to pour in the shipping market
- Author:sofreight.com
- Release Date:2022-12-15
After a long period of downturn, the shipping market finally ushered in a large number of transactions.The ship brokerage company Clarkson Platou Hellas stated in its latest weekly report that in the past week, a large number of small container ships have ushered in the shipping market, which may indicate the future trend of ship demolition.Container ships will become one of the first choice of shipping market transactions. At present, there are 10-15 small container ships on the market for demolition.Another good news is that, in the context of rising domestic steel prices, India's ship demolition prices have further soared, an increase of $ 30 to $ 40/ton.
Bangladesh and Pakistan have performed sluggish in winter.In Bangladesh, the local steel market fell about 500 taard, which exacerbated the market's negative emotions.In addition, the report shows that the letter of credit is estimated to be improved when the International Monetary Fund's loan is approved at the end of January 2023.It has not yet approved financing of ships of 4,000 to 5,000 tons.In Pakistan, due to the shortage of US dollars, steel production and other industries also face the problem of issuing credit.
It is understood that local shipping companies can only receive up to $ 300,000 or $ 500,000 in financing per week, which means that it takes about 4 months to obtain a letter of credit of $ 10 million.Analysts predict that in the next 7 months, the exchange rate of Pakistan Rude against the US dollar will fall by more than 20%.This is definitely a difficult period for Bangladesh and Pakistan's demolition companies.Although the demand for old ships is still strong, they are helpless about financing capabilities.
The report of ship cash buyer GMS pointed out that there have been some positive signs of the shipping market, because the interest of shipowners has risen, especially the offer of $ 500/ton.In the past week, a few transactions have appeared in the market. Although the price has decreased by $ 200/ton from the peak earlier this year, the market emotions have bottomed out and tended to be stable.Bangladesh continues to be trapped by the credit financing limit, but the loan organized by the International Monetary Fund is under approval. As most of the shipping factories are currently vacant, it is expected that demand and price will rise.The price of Turkish ship demolition is still at a low level, and the fundamental improvement is the only good news in the market.Therefore, the current international shipbuilding market is still led by India.Whether the market popularity at the end of this year will be higher than expected. Once Pakistan's currency exchange rate stabilizes, Bangladesh's financing becomes convenient, and the price of ship demolition will increase.
Source: nikos rausanoglou, hellenic shipping news worldwide
Bangladesh and Pakistan have performed sluggish in winter.In Bangladesh, the local steel market fell about 500 taard, which exacerbated the market's negative emotions.In addition, the report shows that the letter of credit is estimated to be improved when the International Monetary Fund's loan is approved at the end of January 2023.It has not yet approved financing of ships of 4,000 to 5,000 tons.In Pakistan, due to the shortage of US dollars, steel production and other industries also face the problem of issuing credit.
It is understood that local shipping companies can only receive up to $ 300,000 or $ 500,000 in financing per week, which means that it takes about 4 months to obtain a letter of credit of $ 10 million.Analysts predict that in the next 7 months, the exchange rate of Pakistan Rude against the US dollar will fall by more than 20%.This is definitely a difficult period for Bangladesh and Pakistan's demolition companies.Although the demand for old ships is still strong, they are helpless about financing capabilities.
The report of ship cash buyer GMS pointed out that there have been some positive signs of the shipping market, because the interest of shipowners has risen, especially the offer of $ 500/ton.In the past week, a few transactions have appeared in the market. Although the price has decreased by $ 200/ton from the peak earlier this year, the market emotions have bottomed out and tended to be stable.Bangladesh continues to be trapped by the credit financing limit, but the loan organized by the International Monetary Fund is under approval. As most of the shipping factories are currently vacant, it is expected that demand and price will rise.The price of Turkish ship demolition is still at a low level, and the fundamental improvement is the only good news in the market.Therefore, the current international shipbuilding market is still led by India.Whether the market popularity at the end of this year will be higher than expected. Once Pakistan's currency exchange rate stabilizes, Bangladesh's financing becomes convenient, and the price of ship demolition will increase.
Source: nikos rausanoglou, hellenic shipping news worldwide