Imported ship breaking scrap prices remain stable; buyers turn active

Ship breaking prices in South Asian markets have remained stable, however trade activities improved amid increased tonnages.

India

SteelMint’s weekly price assessment of Alang stood at around $360/LT for containers, $340/LT for Dry bulk and $350/LT for Tanker. The Indian Rupee against the US dollar stood close to INR 74.

Demand for ship breaking scrap in Indian market remained moderate as a series of HKC green sales for India were reported.

• Sale of a FPSO- DYNAMIC PRODUCER (33,909 LDT) was reported at $285/LT ‘as is’ under tow Macae, Brazil for HKC recycling.
• The self-discharging bulk carrier GYDYNIA (12,960 LDT) was sold at a whopping price of $357/LT basis ‘as is’ Singapore delivery with buyers paying extra for bunkers.
• A Reefer namely SMOLENSKIY (1,854 LDT) managed to fetch $382/LT.
• Noble Corporation sold the NOBLE BULLY I (26,735 LDT) at $252.50/LT ‘as is’ Curacao for HKC recycling.
• One more Drillship- NOBLE BULLY II (26,735 LDT) was sold at $327/LT ‘as is’ Duqum for HKC recycling.

The total tonnage reported in the Alang port last week was at 60,208 LDT. One Supply Vessel namely Linda – 1(1,833 LDT), arrived at the port.

Bangladesh

Bangladesh ship breaking prices remained stable on a w-o-w basis. Demand of scrapped ships among cash buyers was low. As of now, Chattogram struggled to secure its share of the tonnage.

The prices in Bangladesh stood at $370/LT for Containers, $350/LT for Dry bulk and $360/LT for Tanker.

The total tonnage reported last week in the Chattogram port was at 26,732 LDT. Two tankers arrived at the port namely Alba (9,640 LDT) & PP4 (860 LDT).

Pakistan

Gadani recycling yards reported impressive sales backed by firming local steel plate prices, which have jumped nearly $10/t, last week.

• MPP / general cargo unit MAKO (3,668 LDT) was concluded at $381/LT.
• The Polembros owned tanker NEW PAROS (16,696 LDT) was dealt at $408/LT.
• PCL of Singapore sold the PAC ACRUX (10,625 LDT) at $USD 393/LT.
• The 1996 built VLCC SAM ex ZOYA 1 ex SAMHO CROWN (41,846 LDT) was sold at $365/LT
• A tanker TARGET (3,671 LDT) was concluded at $390/LT
• YANTAR (1,664 LDT), a Fish Factory fetched $381/LT.

The prices at Gadani stood at $380/LT for Containers, $360/LT for Dry bulk and $370/LT for Tanker.

The total tonnage reported last week at Gadani port, Pakistan was at 44,151 LDT. Two Bulk Carriers arrived at the port namely Best Leader (6,000 LDT) & Skippers Y (6,500 LDT).