ATHENS: The negative sentiment that has seized the demolition markets these past weeks appears to have no end in sight, as prices were once more pushed downwards by the absence of real.
The negative sentiment that has seized the demolition markets these past weeks appears to have no end in sight, as prices were once more pushed downwards by the absence of real interest to buy. Sub-continent buyers, while closely watching the developments in the international markets and trying to assess the impact these may have on local fundamentals, appear in no hurry to acquire new vesselsespecially with the ongoing monsoon season and Ramadan celebrations.
For the time being then, the majority of market participants appear determined to hold out until the market shows some sense of direction, which will likely come after the end of the monsoon season. In the Far East, a further drop in prices was noted as China struggles with its stock market problems, although the Chinese state’s support towards local tonnage continues unabated.
