21 February 2011

Chinese Scrapping Ship Trading Plummeted in January:

In January 2011, Chinese buyers purchased 4 scrapped vessels of 3.6 m dwt, declined by 42.86% and 12.25% respectively in volume and dwt on a month-on-month basis.

With the increase of iron ore and steel price, international scrapping price kept rising in January. According to the statistics, the average shipbreaking price for 15000-25000 ltd, 6000-10000 ltd and 7000-12000 ltd tankers came up to $457.7/ltd, $453.1/ltd and $440.3/ltd, increased by 5.31%, 5.46% and 4.85% separately against a month earlier.

Source: EST. 18 February 2011

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