Ports and Shipping - Demolition market fired up.


Ships' recycling activity has accelerated over the past couple of weeks, in what appears to be a long-awaited increase in sales of older vessels. In its latest weekly report GMS, the world's leading cash buyer of ships, said that "activity has ramped up in the final month of the year, with several sales of diverse and some large LDT units registering across all sectors.

All locations are now poised positively, with a firming demand and improving prices finally giving those Owners and Cash Buyers with tonnage to sell, some much-needed respite, especially after a disastrous fourth quarter that delivered some painful declines across nearly all of the recycling markets"...

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