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Developer Jessica Myers Is On A Mission To Help Professionals Experience Financial Freedom Through Real Estate Investing
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Demolition Market is Sizzling Hot
Prices offered by scrapyards for older tonnage is reaching new heights of late, tempting many owners into decommissioning the older ships of their fleet. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “with the after-effects of the Eid festivities still being felt across the Indian sub-continent, the week started off very slowly with no real appetite from end recyclers materializing. Also, the devasting Cyclone “Tauktae” blasting India in particular ground the country to a halt, with many casualties now sadly being reported. Not only was it battling this tragedy, it is also still in the midst of a strong 3rd outbreak of Covid-19, taking up the countries resources with one of those being oxygen bottles that all yards in Alang have donated to local hospitals. This has dramatically halted the dismantling procedures at the yards and may take a few weeks before they are back up and running at full steam, although despite t
Demolition Market “Hotting Up”
The allure of even higher offers isn’t one to be ignored by many ship owners these days, when it comes to deciding whether to scrap their older ships or not. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “commodity markets rallied again this week, with Iron Ore trading as high as $230 per tonne, having broken through the $200 mark for the first time ever in the last seven days. These fundamentals have enabled the Global Steel markets to soar which has meant the local steel prices in the Indian sub-continent firming and leaving the distinct possibility that we could reach the USD 600/per ldt level! This would result in a huge milestone for the market and see levels not witnessed since the post 2008 financial crash. This makes the recovery even more impressive as the World starts to unlock after what has been the biggest and worst Economic shut down in history due to the Covid-19 Pandemic, where this time last year it g
Power of Buy-to-Let Mortgages Shines Through in Landlord Buying Habits
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GMS Week 11 – MOMENTUM MAINTAINED!
The upward trajectory has continued in most sub-continent markets this week – particularly in a resurgent Bangladesh, where local steel plate prices are at the highest levels they have been all year.
India too remains positively poised, but Pakistan has started to cool off again after several purchases in the high USD 400s/LDT were seen last week, including the highest priced VLOC sale seen over recent years and one Panamax Bulker at USD 480/LT LDT.
Just as Bangladesh enjoyed a sharp upwards spike earlier in the year followed by a swift crash, it appears that the subcontinent recycling markets are poised for swift and sharp corrections this year, which often tends to leave Cash Buyers exposed on any unsold inventory that was not immediately committed on a back-to-back basis.
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