Demo prices are achieving new highs with one old gas carrier managing to notch a very strong $551 per ldt.
The 1983-built Adriatic Energy, formerly owned by Japan’s Nippon Yusen Kaisha (NYK) and in layup this year in Labuan, Malaysia, has managed to get a price of $551 per ldt, the highest figure seen so far this year.
Brokers are anticipating a very strong October pricing-wise in the ship recycling sector.
Brokers Allied noted in their most recent weekly report: “Overall there has been a large increase in appetite amongst breakers, with a fair jump being noted in the quoted prices across all of the Indian Sub-Continent.”
Allied concluded: “[W]ith local steel prices still holding strong and most of the previous inventory now processed, it all seems as though the next couple of weeks will see a fair amount of heated competition take place as each looks to outcompete the previous seen price levels and entice the more high spec favorable units circulating the market.”