Bulk shipments from US to India has increased; three bulk scrap vessel are expected to arrive this week.
Bulk scrap shipments to Indian market continue to increase this year owing to low prices. During Jan–Oct’15, almost 12-14 bulk vessels have been recorded. Three more vessels are lined up for November first week. Sources mentioned that there are few more vessels expected to arrive at Indian port during Nov/Dec’15.
The first vessel named Stove Campbell is expected to berth today (6 Nov’15) at Kandla port. The vessel contains 40,000 MT of Shredded scrap. According to sources, the deal was concluded at USD 210/MT a month back by a leading ship breaking company named, Hariyana group.
Second vessel (Fodas Pescadores) is expected to arrive at Chennai Port on 8 Nov’15, containing 10,500 MT scrap (5,250 MT Shredded and 5,250 MT HMS scrap). As per report, the vessel is bought by MTC from Japan. However, offer details could not be confirmed.
Third vessel (Hainan Island) is expected to arrive at Chennai Port on 11 Nov’15. Vessel contains 30,000 MT of US origin Shredded scrap. As per sources, one of the leading steel manufacturers in Chennai named, Kamachi Group has booked the vessel at USD 225/MT, CFR Chennai around 1.5 months back.
In recent BIR (Bureau of International Recycling), it was reported that scrap imports to some of the large importing nations like Turkey and Korea have dropped on account of lower Chinese steel prices. On the contrary, scrap imports to India have increased. It is to be noted that Indian import duty on scrap is 2.5% and billet is 10%.
Bulk vessel details arrived in India (Apr-Nov’15*)
| Berthing | Discharge Port | Load Country | Quantity in MT |
| Apr’15 | Mundra | Australia | 40,300 |
| Apr’15 | Kandla | USA | 41,000 |
| Apr’15 | Chennai | USA | 41,450 |
| May’15 | Kandla | Australia | 31,000 |
| May’15 | Mundra | Australia | 25,000 |
| May’15 | Chennai | USA | 33,000 |
| Jun’15 | Vizag | Australia | 27,000 |
| Jul’15 | Vizag | USA | 35,000 |
| Aug’15 | Kandla | USA | 23,000 |
| Sep’15 | Mundra | S.Africa | 28,000 |
| Oct’15 | Chennai | USA | 10,500 |
| Nov’15 | Kandla | USA | 40,000 |
| Nov’15* | Chennai | Japan | 10,500 |
| Nov’15* | Chennai | USA | 30,000 |
Source: SteelMint Research
Leave a Reply