According to customs data maintained with SteelMint, vessel named ‘IVS Naruo’ carrying 45,020 MT scrap from the United Kingdom is expected to arrive Kandla port,Gujarat tomorrow (i.e. 14 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. India is rising as a prime importer of bulk ferrous Scrap in CY17. Indian importers preferred bulk over containerized scrap cargoes owing to lesser freight rates.
With prior nine bulk vessels so far in CY17, the total quantity of bulk ferrous scrap unloaded in India summed up to 249,960 MT which will be supplemented by upcoming vessel ‘IVS Naruo’ further.
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