Shipyards continue to shy away from newbuilding talks amid confusion over steel plate costs despite a dip in Chinese steel prices, shipbuilding sources tell TradeWinds.
Several shipyards in China — including Yangzijiang Shipbuilding and Jiangsu New Hantong Heavy Industry — are said to have put marketing activities on hold and stopped quoting newbuilding prices.
Chinese steel prices have fallen 12% in recent weeks — dropping from CNY 7,400 ($1,160) to CNY 6,500 in the wake of Beijing's call to calm commodity prices last month — but remain about 40% up on this time last year.
