Scrap prices are still soft with vessels being on stream of disposal and India leading the game as Bangladesh still tries to find its strength.
Golden Destiny says scrap levels for dry units are floating at $460-$470/ldt and for wet units near to $500/ldt with China offering below $450/ldt.
The week ended with 21 vessels reported to have been headed to the scrap yards of total deadweight 1,281,029 tons.
In terms of the reported number of transactions, the demolition activity has been marked with a 91% week-on-week increase, whereas there has seen a 92.35% increase regarding the total deadweight sent for scrap.