It is without doubt that mainland China is the cheapest area in which to carry out steelwork. Price levels have been quoted at less than $1/kg, compared with Singapore at $2-2.50/kg. That difference results in Singaporean yards not quoting for simple steelwork when a mainland Chinese yard is involved in the tendering process. However, it appears that competition between the yards in China has forced the price down even further. It is understood from sources in the Middle East that a VLCC recently went to China for alongside repairs and the steel renewal price was down to $0.64/kg (64 cents). If that is true then there are some worrying times ahead for all those yards in south east Asia and the Far East competing with China.
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