Alang: Ship Demolition Increases by 33% in March’17

Total 20 ships reported to Alang for demolition the month of March’17, which is 33% higher against Feb’17.

In Feb’17 total 15 ships were breached at Alang for breaking, whereas the number was 29 in Jan’17. There are still 6 ships waiting to breach in the month of March and 1 more vessel is expected to arrive that will be carried forward to April’17.

Currently in Indian domestic market, ship breaking prices are hovering at the range of INR 21,300-25,300/MT and it has increased up to INR 2,200/MT, M-o-M.

Imported Scrap offers in the month of March remain volatile by up to USD 20/MT M-o-M currently offers are assessed at USD 245-310/MT CFR level.

Alike, Indian billet offers also surged by INR 2,500/MT and Bhavnagar billet offers are evaluated at INR 1,600/MT M-o-M.

Global Ship Breaking Offers in Week-13 Bullish:

Ship recyclers are holding back strong on to the stocks of ships for breaking as another week passed with prices in the sub-continent markets on the rise.

While the trend of improving freight conditions continues and the Buyers seem more anxious to secure the few units available for sale, resulting in impressive prices being reported especially for higher ldt tonnage.

Bangladeshi and Pakistani buyers were at the forefront of the market during last week, although Indian recyclers assisted by the improving local conditions were also in the forefront for buying.

In China, local breakers could only watch as the price gap between local prices on offer and the sub-continent continues to widen.

Turkey market remained firm in a week and were assessed at USD 215/lt Ldt for general cargo and USD 225/lt Ldt for tanker.

In India, prices are assessed at USD 350/lt Ldt for general cargo and USD 365/lt Ldt for tanker. Bangladesh also reflects strong buying.

Global Ship Breaking Prices (in USD/ltldt) in Week-13:

Source: SteelMint Research