South Asia: Imported ship breaking offers up by $10/t w-o-w, on improved demand

Ship breaking prices in Asian markets saw an uptick over increased demand. The prices increased by $10/LT, as per SteelMint’s weekly assessment.

India

Our assessment showed an improvement in imported ship breaking offers in India. The offers stood at $370/LT for containers, $350/LT for Dry bulk and $360/LT for Tanker.

The Indian Rupee remained firm considerably, trading around INR 74 as against the U.S. Dollar.

• A smaller LPG from Korean sellers was committed to Indian Buyers this week as the NAMHAE GAS (2,744 LDT) was concluded on the basis an ‘as is’ Yeosu, Korea delivery.
• The total tonnage reported at the Alang port last week was at 64,206 LDT. One Oil tanker arrived at the port, namely Royal Princess (2,245 LDT).

Bangladesh

Bangladesh ship breaking prices surged by $10/LT on a w-o-w basis. Demand of scrapped ships increased again among the cash buyers. Bangladeshi market is expected to potentially emerge as the leading force again in the Indian sub-continent.

• The prices stood at around $370/LT for Tankers, $380/LT for Containers & $360/LT for Dry Bulk.
• The total tonnage reported last week in the Chittagong port was 26,732 LDT. Two tankers namely PP4 (860 LDT) & Alba (9,640 LDT) were beached at the port.

Pakistan

Gadani remained the most active market and highest paying recycling destination of all, with the prices at $390/LT for containers, $370/LT for Dry Bulk & $380/LT for Tankers.

Total tonnage reported at the Gadani port last week was 32,916 LDT. Three bulk carriers were beached at the port namely Best Leader (6,000 LDT), Skippers Y (6,500 LDT) & Welview (16,916 LDT).