Alang, one of the largest ship breaking yards in the world and a major source of scrap in India, reported total 11 ships reached for breaching in last 15 days this month.
Total 5 vessels, carrying 42,426 LDT are still waiting for breaching in this month and one vessel of 10,958 LDT is expected in near term.
Earlier in Jul’16, total 15 ships had arrived to Alang (Gujurat) for demolition compared to 18 ships in Jun’16.
Positive sentiments are currently prevailing in domestic market, which in turn has supported ship breaking market also. Prices in a week surged by INR 300-500/MT and hovering in the range of INR 15,300-18,500/MT.
In the meantime, imported scrap offers too registered a hike of USD 5-15/MT across global market. It is heard from sources that offers have moved up, following constant rising imported billet offers.
Global market price scenario
Pakistani market has started to fire again, with demand and pricing picking up, following the extended lull pursuant to Eid holidays and the ongoing monsoon.
On the other hand, Bangladeshi buyers have been beset by falling local steel plate prices and devastating floods in the region whilst Indian buyers have yet to fully capitalize on their stable market fundamentals, with improved numbers.
Shipbreaking prices in India, Bangladesh and Pakistan are assessed at USD 250/lt Ldt, USD 240/lt Ldt and USD 245/lt Ldt respectively for general cargo.
Global ship breaking prices (in USD/ltldt) in week 33
| Country | General Cargo | W-o-W | Tanker | W-o-W | Remarks |
| India | 250 | 0 | 280 | 0 | Improving |
| Bangladesh | 240 | -5 | 270 | -5 | Declining |
| Pakistan | 245 | 0 | 275 | 0 | Improving |
| China | 170 | 0 | 180 | 0 | Stable |
| Turkey | 170 | +5 | 175 | +5 | Stable |
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