Ship breaking offers to Indian market have seen further improvement following rally in domestic steel prices.
SteelMint’s weekly price assessment showed, increased in imported ship breaking offers by USD 5/MT in India & stood at around USD 385/LT for Tankers, USD 395/LT for Containers & USD 375/LT for Dry Bulk in the first week of CY20, as per GMS report.
In the week, Indian market has been the most active and the Alang based buyers bagged a majority of the recent market sales across all subcontinent.
As per market report, two Sinokor containers were traded, namely SAWASDEE LAEMCHABANG (6,952 LDT) at USD 432/LT & SINOKOR ULSAN (2,942 LDT) at USD 432/LT basis an en bloc sale. Inline the vessel prices improved over surge in steel plate prices in India by around USD 25-30/MT in Jan’20. The Indian Rupee again weaker as against the US dollar i.e. INR 72.
While in Bangladesh, after having a majority of sales in the end of 2019, Chattogram recyclers are slightly subdued as many of the buyers have booked themselves with good tonnage. Large LDT vessel were traded, namely VLOC BERGE HUA SHAN (40,393 LDT) at USD 402/LT.
As per assessment, the prices remain firm in Bangladesh & stood at USD 385/LT for Containers, USD 365/LT for Dry bulk and USD 375/LT for Tanker.
Meanwhile in Pakistan no major trades reported as domestic buyers are constantly confused whether to offer or not. As of now, the prices for containers reached at USD 375/LT, Dry Bulk at USD 355/LT & Tankers at USD 365/LT.
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