High freight rates sink shipbreaking in Asia
Oct 28, 2005 | 08:44 AM
| Ben Garside
High ocean freight rates have left many of South Asia's shipbreakers with few ships to dismantle in the coming months.
Ship demolition sales are at their lowest levels in two years, shipbreakers said, because buoyant freight revenue is encouraging shipowners to do anything possible to keep even their most aged vessels on the water.Bangladeshi breakers have formed a pricing association that took bids down to $358 per light displacement tonne (ldt) two weeks ago from $390 to $400 ldt for handysized vessels a month earlier. The new association is likely to cut its bids further, analysts said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.