Hike in freight costs, high disparity in freight charges and the problems with containers lead to rise in bulk scrap imports in last few months.
India: 9th bulk scrap import vessel reported at Kandla port
According to customs data maintained with SteelMint, vessel named ‘Mount Hikurangi’ carrying 30,570 MT scrap from USA is expected to reach Kandla port on 10 Jul’17.
Indian importers had booked around 8-10 bulk vessels in the month of May for which delivery was expected to be between June and July. With prior eight bulk vessels, the total quantity of bulk ferrous scrap thus unloaded in India so far in CY17 summed up to 219,390 MT which will be supplemented by upcoming vessel further.
Pakistan: 2nd bulk ferrous scrap vessel import In CY17
According to customs data maintained with SteelMint, a one more bulk vessel named ‘King Island’ loaded with 21,000 MT of ferrous Scrap from USA is expected to arrive at Pakistan’s Karachi Port today (i.e. on 5th Jul’17).
As per trade sources report, in May’17 about 3-4 bulk scrap import vessels were booked from Pakistan. After arrival of 1st bulk vessel called ‘MV Daiwan Fortune’ on 27 Jun’17.The upcoming bulk vessel (i.e. ’King Island’) is anticipated to arrive today on Karachi port adding further 21,000 MT of ferrous Scrap Imports to Pakistan from USA in CY17.Total Scrap imported thus, summed up as 48,500 MT so far in CY17 and remaining vessels are expected to reach shortly.
Bangladesh: 21,000 MT scrap vessel to reach port on 08 Jul
According to customs data maintained with SteelMint, a one more bulk vessel named ‘New Leader’ loaded with 31,300 MT of ferrous Scrap from USA is expected to arrive at Bangladesh on 08 Jul’17.
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