"Excellence is the unlimited ability to improve the quality of what you have to offer." Rick Pitino - www.gmsinc.net - shipping site
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“Excellence is the unlimited ability to improve
the quality of what you have to offer.”
―Rick Pitino
www.gmsinc.net GMS_Leadership GMS Inc. GMS,Inc. gms.inc,l’
-+Ali / +N
June 4th, 2021 “Many of life’s failures are experienced by people who did not realize
Volume 226, Issue 983 how close they were to success when they gave up.”
Week 23 – Thomas Edison
Highlights: MARKET COMMENTARY
C OOL
“There are only two SUMMER?
options regarding commitment. You're either in or
you're out. There's no such thing as life in-between.”
• Caution. A greater degree of caution seems to have entered the market this week, both on the Cash and
– Kathy Collins
End Buyers sides, as some of the more bullish offerings seen over the past few months begin to
gradually subside.
Forward steel prices seem to suggest a decline over the summer / monsoon months and along
• Forward steel. with upcoming budgets in both Bangladesh and Pakistan, this is sure to put a damper on some
of the overzealous numbers seen recently.
On the far end, Turkey remains steady, however, with a weakening Lira, there are increasing
fears of possible declines in levels in the coming week(s).
•Covid surge.
Covid-19 continues its unstoppable surge across India and the sub-continent, as well as
resurfacing virus mutations across Asia and Europe once again, as any hopes of a swift end to
this pandemic saga are highly unlikely, despite the increasing rate of global vaccinations.
• Crew issues. This means crew repatriation in sub-continent locations (with certain crews not being allowed)
and ‘as is’ take overs (especially in the Far East) have become increasingly challenging as
borders close and restrictions increase at present.
However, there are positive signs on the horizon as demand into all locations remains good,
• Demand good. and a recent slowdown in tonnage means that fewer vessels are being offered for sale into a
market that is still holding steady and the lack of supply can only mean increased demand and
steady / firmer prices.
For week 23 of 2021, GMS demo rankings / pricing for the week are as below.
Demo Dry Bulk Tankers Containers
Location Sentiment
Rank USD / LDT USD / LDT USD / LDT
1 Bangladesh Steady 540 / LDT 550 / LDT 560 / LDT
2 Pakistan Steady 530 / LDT 540 / LDT 550 / LDT
3 India Steady 500 / LDT 510 / LDT 520 / LDT
4 Turkey Steady 280 / LDT 290 / LDT 300 / LDT
67(GMS Weekly Page 2 of 8
BANGLADESH
SLIPPING! BANGLADESH
BANGLADESH
Bangladesh has started to slip behind their Pakistani competitors, particularly for the
Losing large. largest units currently on offer.
BANGLADESH
There remains a belief moving forward that if rates ease off in the traditionally weaker
monsoon / summer months, it would be best to purchase smaller LDT vessels so that
there is less risk involved with the longer cutting times on larger LDT units during the
rains and the possibility of market declines during this time.
BANGLADESH
Having said that however, very few deals have been done recently to satisfy a decent
Few deals. local demand and it may be that Bangladesh is content to wait out these next few
months, especially given the vast supply of vessels that have already been beached
BANGLADESH
locally over the course of the year so far.
BANGLADESH
BANGLADESH
NO MARKET SALES REPORTEDPage 3 of 8 GMS Weekly
INDIA
INDIA
OVER THE WORST?
INDIA
The ongoing Covid pandemic continues to consume India while oxygen supplies are still
being diverted to domestic hospitals and the unfathomable numbers of cases and deaths Covid disrupts.
(although easing in recent weeks) continue to be reported by the day.
INDIA
Despite steel prices improving by nearly USD 20/Ton over the course of the week, the
main supply of vessels continues to be non-ferrous (stainless steel) units and little else.
INDIA
Crew repatriation issues remain in India (for Chinese and various other crews) and so,
on top of most recycling yards being closed and high Covid-19 cases resulting in delays
Avoiding Alang.
during inward clearance / repatriation of incoming crew, many Owners are choosing to
INDIA
avoid Alang deliveries for the time being.
INDIA
INDIA
NO MARKET SALES REPORTEDGMS Weekly Page 4 of 8
PAKISTAN
CHIPPING AWAY! INDIA
INDIA
Pakistan continues to improve as a market and is slowly starting to chip away at the
Improving. Bangladeshi share of tonnage, having secured a number of choice units of late.
INDIA
The budget is reportedly coming up on June 11th (to be imposed on July 1st) and as such,
all eyes will be on the outcome of the budget as we move into the summer months
(although few changes on the ship recycling sector are expected).
INDIA
With a growing demand and a number of Gadani Buyers now starting to jump up on price,
we can expect a greater number of vessels to be concluded into Gadani over the coming
Demand grows. month(s).
INDIA
INDIA
Buyers ready to acquire
INDIA
NO MARKET SALES REPORTEDPage 5 of 8 GMS Weekly
TURKEY
STEADY.
The Turkish market remained steady for another week, with import and local steel prices
relatively unchanged since last week. However, the Turkish Lira depreciated notably this Lira drops.
week, breaching a record-breaking TRY 8.7X levels against the U.S. Dollar.
This has certainly caused a greater degree of concern amongst Aliaga Recyclers, who are
fearing an impending drop in prices. As of now however, with steady steel fundamentals
and lack of available tonnage, levels have remained stable.
Certainly a better time to commit units into Turkey, sooner rather than later.
Sooner than later.
NO MARKET SALES REPORTEDMiscellaneous Page 6 of 8
i
AMAZING FACTS
The cast of Friends still earns around $20 million each year. When the show came to an end, the cast of the
popular TV show Friends negotiated syndication rights for themselves. That means they receive a percentage of
the revenue (two percent) from reruns airing across all broadcasting companies. Since the much-loved TV show
still pulls in around $1 billion of revenue, Courtney Cox, David Schwimmer, Jennifer Aniston, Lisa Kudrow,
Matt LeBlanc, and Matthew Perry all make major dough each year for doing, well, nothing—$20 million is the
estimate.
Pluto technically isn't even a year old. Pluto was discovered on February 18th, 1930. It is the farthest (dwarf)
planet from the Sun, requiring it to go a much farther distance than we are used to on Earth. It takes 248 Earth-
years for Pluto to complete one rotation of its own around the sun. This places Pluto's first birthday since its
discovery on Monday, March 23, 2178.
Cows kill more Americans each year than sharks do. While sharks account for about 53 bites per year, only
one of those ends up being fatal. Cows, on the other hand (or hoof), kill around 20 people per year.
In Germany, people help toads cross the road. You might not want to bring up the popular video game
Frogger in Germany. There, they like to protect their frogs, toads, and other amphibians. In order to save them
from harm when crossing the street, conservation organizations installed more than 800 fences along popular
roadways. Along these fences are buckets, so when they try to cross, they eventually hop into one. At the end of
the day, wildlife conservationists collect the buckets and release frogs across the road into a nearby forest with
ponds and lakes.
IMPORTANT DATES
INDIA
BANK HOLIDAYS BEACHING TIDES
No holidays in June June 08 – June 16
June 21 – June 30
BANGLADESH
BANK HOLIDAYS BEACHING TIDES
No holidays in June June 10 – June 13
June 24 – June 27
IMPORTANT BANK HOLIDAYS
CHINA PAKISTAN TURKEY
June 14 – Dragon Boat Festival No holidays in June No holidays in June
Prices indicated above are as reported in the market and are not necessarily accurate. This information is provided without prejudice and is given in
good faith and without any guarantees whatsoever. While every care has been taken in the preparation of this report, no liabi lity can be accepted for
any loss incurred in any way whatsoever by any person relying on the information contained herein. Opinions expressed herein may be deemed
subjective and arbitrary. This WEEKLY is intended only for the person or entity to which it is addressed and may contain conf idential and/or
privileged material. Any review, retransmission, dissemination or other use of this information by persons or entities other than the intended recipient
is prohibited.Page 7 of 8 GMS Port Report
ALANG - Port Position as of June 04, 2021
No. VESSEL NAME LDT TYPE STATUS
1 Bridge 7,615 RoRo Beached June 02
2 China Frost 3,431 Reefer Arrived May 25
3 Dawn (Under Tow) 3,197 Chemical Tanker Beached May 29
4 Falcon 6,695 Ch. Tanker Arrived June 01
5 Gulf Glow III 2,889 Tanker Arrived April 29
6 Ice Ranger 6,931 Reefer Arrived May 31
7 Linda - 1 1,833 Supply Vessel Arrived November 13
8 Mega 2,369 Chemical Tanker Beached May 29
9 Pioneer 2,507 Tanker Arrived June 01
10 Rover (Under Tow) 18,889 MODU Arrived June 01
11 Shun Li 2,427 Ch. Tanker Arrived May 29
12 Tag 16 (Under Tow) 1,473 Supply Arrived June 01
13 Tag 17 1,425 OSV Beached June 02
14 Tage 19 (Under Tow) 1,944 Supply Arrived June 01
Total Tonnage 63,625
CHATTOGRAM - Port Position as of June 04, 2021
No. VESSEL NAME LDT TYPE STATUS
1 CE-Neris 16,337 Tanker Arrived May 31
2 Freesia 1 23,159 Tanker Beached May 30
3 Hua 1 16,062 Tanker Arrived May 28
4 Luck Grow 888 2,419 Tanker Beached May 29
5 Luck Grow 889 2,168 Tanker Arrived June 02
6 Med 20,585 Tanker Arrived June 03
7 MR Star 10,043 Tanker Beached May 30
8 Polaris 4,777 Tanker Beached May 29
9 Sea Jade 5,999 Tanker Beached May 31
10 Since (Under Tow) 15,442 Vehicles Carrier Arrived June 03
11 Sunward 2,275 Tanker Arrived May 31
12 Zhen 17 17,551 Heavy Lift Carrier Arrived May 29
Total Tonnage 136,817
GADANI - Port Position as of June 04, 2021
No. VESSEL NAME LDT TYPE STATUS
1 Baraka 5 7,805 Cattle Carrier Beached June 02
2 Captain Hamada 3,318 General Cargo Beached May 29
3 Elka Vassiliki 17,000 Tanker Arrived May 31
4 Intercom 1 N/A Tug Beached June 04
5 Nolla 1,828 Tanker Beached June 03
6 Toteel 1,944 Tanker Beached June 03
Total Tonnage 31,895
WHILE EXTREME CARE HAS BEEN TAKEN IN THE PREPARATION OF THIS REPORT, NO LIABILITY CAN BE ACCEPTED FOR ANY LOSS INCURRED IN ANY
WAY WHATSOEVER BY ANY PERSON RELYING ON THE INFORMATION CONTAINED HEREIN.Steel Plate Prices Page 8 of 8
INDIA STEEL INDIA STEEL PAKISTAN STEEL PAKISTAN BANGLADESH STEEL BANGLADESH CHINA STEEL
DATE
PRICES USD/T PRICES PRICES USD/T STEEL PRICES PRICES USD/T STEEL PRICES PRICES USD/T
5/29/2021 550.80 39,900.00 693.68 107,000.00 631.58 54,000.00 463.06
5/30/2021 550.80 39,900.00 693.68 107,000.00 625.73 53,500.00 463.06
5/31/2021 549.51 39,900.00 693.68 107,000.00 625.73 53,500.00 473.45
6/1/2021 547.33 39,900.00 693.68 107,000.00 619.88 53,000.00 474.27
6/2/2021 558.22 40,800.00 693.68 107,000.00 616.37 52,700.00 472.77
6/3/2021 566.45 41,300.00 693.68 107,000.00 616.37 52,700.00 472.49
6/4/2021 568.34 41,500.00 693.68 107,000.00 616.37 52,700.00 470.56
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