Turkey surpasses China in ship recycling

Shanghai: The latest report from shipbreaking analysts GMS shows that China’s continued inability to pay top dollar has seen Turkey surpass it for business.

“The Chinese market showed few signs of picking up this week – indeed even slipping further into the mire – as the Indian sub-continent markets continued to operate some USD 100/LT LDT ahead,” GMS noted.
The Turkish market has now become the fourth market behind Bangladesh, India and Pakistan with rates there some $20-30 per ldt ahead of China.  [20/09/12]

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