Freight Sectors Defy Global Crises, Ship Recycling Markets Struggle Amidst Economic Instability Amidst a backdrop of global crises and economic uncertainty, the freight sector is demonstrating an unseasonably strong performance, even as ship recycling nations grapple with life-threatening challenges. According to reports from GMS, a leading cash buyer, the persistent [...]
Ship Breaking in the Subcontinent Hits Rough Waters The ship recycling industry in India and Bangladesh is facing a perfect storm of bad news, according to reports from cash buyer GMS. Local currencies and steel plate prices have taken a nosedive, further squeezing profit margins for shipbreakers. This comes on [...]
GMS Anticipates a Glimmer of Hope for Ship-Recycling Industry in 2024 The ship-recycling industry faced a challenging 2023, culminating in a particularly dismal six-month tail end. However, as we step into 2024, there is a cautious optimism and a ray of hope for recovery, according to cash buyer GMS. Multiple [...]
Riding the Tides: The Turbulent Journey of Ship Prices in 2023 As the international ship recycling community wraps up the year, there’s a sense of mixed emotions, according to the insights shared by cash buyer GMS. Reflecting on the past year, GMS notes that 2023 has seen more concluded deals [...]
