Demolition brokers reported that the first half of June was relatively quiet, despite slightly higher prices on offer, though activity picked up in the second half of the month. The volume of tonnage on the Indian sub-continent beaches was still high and Chinese recyclers were increasing their volumes, with the price differential between the two scrapping areas having reduced. However, most brokers referred to the big backlog of potential scrap candidates in all major shipping sectors. Prices are generally volatile and dependent on local conditions and individual vessel characteristics as to how much buyers are willing to pay around the prevailing benchmark price, which in mid-June was around $250 per ldt. There was a sense of relief that government budgets in Pakistan and Bangladesh did not produce any nasty surprises with regard to taxes on recycled vessels.
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