Ship breaking prices in Asian markets have again increased by USD 10/LT W-o-W over improved activities amid increased tonnages, as per GMS report.
In South Asia, positivity continued in Indian market & remained the most active scrapped ship market securing a number of HKC based green recycling units at increasing numbers. Inline majority of container units also heading to Alang port, Gujarat.
Meanwhile Indian Rupee traded low at INR 71 against the US Dollar. The prices of imported ship breaking up by USD 10/LT W-o-W to USD 410/LT for Containers, USD 390/LT for Dry bulk and USD 400/LT for Tanker. The total tonnage reported in the Alang port, India last week was at 80,177 LDT.
And in the second-best market, sales activities remain flat in Bangladesh over little demand as recyclers are still determined to book any vessels. however last week there was no major LDT trade, as sources observed. While few smaller LDT units reported. The offers increased by USD 10/MT W-o-W and stood at around USD 390/LT for Tankers, USD 400/LT for Containers & USD 380/LT for Dry Bulk. And the total tonnage reported in the Chattogram port last week was at 100,332 LDT.
While, Pakistan remains a way behind their competitors. As of now no major changes seen in buying activities in the local market. In recent weeks, the imported scrap prices to Pakistan up by USD 10/LT and stands at USD 390/LT for containers, USD 370/LT for Dry Bulk & USD 380/LT for Tankers. Furthermore, few capable buyers in the nation are looking to acquire any vessels. In line, as per sources a tanker name “Jamal” beached in the Gadani Port with 1,527 LDT in the last week.
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