As we enter the final week of 2023, sub-continent markets wrestle on, says money purchaser GMS, going the ultimate furlong to spherical out what has been an general disappointing yr for pricing and volumes.
Costs have collapsed from over $600/LDT to under $500/LDT over sure phases this yr, seeing round $150/LDT wiped from residual values in a shock for house owners and money consumers alike.
“Now that currencies and metal costs appear to have stabilized throughout the board in the meanwhile, many can be hoping for a extra bullish 2024, significantly as the provision of tonnage is about to extend – from each the dry bulk and container sectors.”
Prepared and accessible financing will stay the chief element in how far markets are in a position to push on within the new yr, and there’s some hope that incoming IMF loans and settled elections will deliver larger want from consumers and for banks to mortgage once more.
Worldwide costs have gained good floor during the last quarter of the yr, says GMS, however markets in India have but to maintain tempo – as an alternative really dropping round 7-8% in worth within the final month alone.
Regulatory points are sure to trigger disruption in 2024, with the brand new UAE ship recycling directive coming into impact and the EU lastly prepared to think about including Indian yards to their permitted recycling listing.
For week 51 of 2023, GMS demo rankings / pricing is:
