Scrap steel prices are highly volatile. Once a ship owner decides to scrap an vessel, they can only do so on the ‘spot market’ with a forward delivery of 2-3 months.
In the interests of the industry and its stakeholders we are working on a solution to detach physical delivery time from the date of signing of the demolition contract. We believe that such a solution could increase owners’ financial flexibility and strengthen their balance sheets.
If you have a vessel to scrap in Turkey we can already help you to ‘hedge your bets’ up to 15 months’ in advance of delivery of the vessel.
