Alang Ship Breaking Falls by 48% in Feb’17, Price Rise by USD 15

Total 15 ships were reported to have breached at Alang (Gujarat) in Feb’17, which has fell 48% against Jan’17.

In Jan’17 total 29 ships were parked at Alang for breaking, whereas the number was 25 in Dec’16. There are still 4 ships waiting to breach in the month of Feb and 2 more vessels are expected to arrive that will be carried forward to March’17.

Currently in Indian domestic market, ship breaking prices are hovering at the range of INR 19,000-22,400/MT and it has increased by INR 200-700/MT M-o-M.

Imported Scrap offers in the month of February surged by upto USD 51/MT M-o-M and currently offers are assessed at USD 250-300/MT.

Alike, Indian billet offers are also surged by INR 2,500/MT and Bhavnagar billet offers are evaluated at INR 1,000/MT M-o-M.

Global Ship Breaking Price Rise by USD 15:
The week earlier was reported to have seen a considerable maneuvering resumed in sub-continent recycling markets, Bangladesh market trailed just behind the Indian buyer’s activity as a result of assertive sentiments.

Turkey market remained strong as offers moved up by USD 10 in a week and were assessed at USD 200/lt Ldt for general cargo and USD 210/lt Ldt for tanker.

Pakistani buyers remained dull amid uncertainty regarding the improvements that are required for breakers to resume operations, following the tragic accidents of the last few months.

Global Ship Breaking Prices (in USD/ltldt) in Week-9

Source: SteelMint Research