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 in the month of Nov’16 (till 17 Nov’16).
Total 7 vessels, carrying 66,105 LDT are still waiting for breaching in this month and 0 vessel of 10,958 LDT is expected in near term.
Earlier in Oct’16, total 30 ships had arrived to Alang (Gujarat) for demolition compared to 22 ships in Sep’16.
Falling domestic steel price pull down ship breaking prices as well. MS Billet price have moved down by INR 300-1,200/MT in line Ship breaking prices in a week have moved down by INR 800-1,500/MT and hovering in the range of INR 17,000-19,200/MT.
Global Market Price Scenario Positive
Global ship breaking market was on positive in week 47 as prices across the world moved up upto USD 10/lt Ldt for general and prices was firm for tanker cargoes. Meantime, India price increased by USD 10/ldt in tanker.
Ship breaking prices in India, Bangladesh and Pakistan are assessed at USD 270/lt Ldt, USD 275/lt Ldt and USD 280/lt Ldt respectively for general cargo.
Global ship breaking prices (in USD/ltldt) in week 47
| Country | General Cargo | W-o-W | Tanker | W-o-W |
| India | 270 | -20 | 300 | -5 |
| Bangladesh | 275 | -15 | 305 | 0 |
| Pakistan | 280 | -15 | 310 | 0 |
| China | 200 | 0 | 210 | 0 |
| Turkey | 200 | 0 | 210 | 0 |
Source: SteelMint Research
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