"With Pakistan still out of the picture and Turkey having to make do with a handful of older European vessels arriving in recent weeks, shipbreaking activity continues to be centred on India and Bangladesh.
Prices in India are at the lowest level compared to last months. Nevertheless, despite the better prices in Bangladesh and the recent emergence of certified yards, Indian yards remain the first choice for owners seeking recycling under the HKC contract.
Globally low steel demand is unlikely to support higher prices in the short term and if prices continue to fall while vessel earnings remain healthy, this stagnant period may continue. "
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