10 min
Ship Recycling Global Market Report | July 5th 2022 GMS Podcasts
-
- Business
With Bangladesh more or less closed for business and Pakistan effectively out of the market following a dire performance on contracts, it is perhaps fortunate that shipowners are choosing to hang onto their old ships for further trading, even if it means expensive drydocking and special surveys. GMS senior trader for GMS in Singapore explains what is happening, likens the recent scrap price movements to cryptocurrency volatility and offers a view on what it will take to get the market back on track.
With Bangladesh more or less closed for business and Pakistan effectively out of the market following a dire performance on contracts, it is perhaps fortunate that shipowners are choosing to hang onto their old ships for further trading, even if it means expensive drydocking and special surveys. GMS senior trader for GMS in Singapore explains what is happening, likens the recent scrap price movements to cryptocurrency volatility and offers a view on what it will take to get the market back on track.
10 min