Bulk ship breaking prices in Indian market continues to remain weak owing to falling imported Scrap prices and increase buying of Billet from China and Russia at a very competitive price. The major fall seen in Turkey where General and Tanker Ship breaking prices have declined by USD 30/MT.
Containerized imported Scrap offers from European countries have noticed a fall of USD 5/MT this week, with HMS 1&2 offered at USD 280-290/MT, CIF and Shredded at USD 305-307/MT, CIF India.
Indian Rupee is also getting weak against USD, which is currently trading at 61.85 per USD (up by 0.45 bps). Viewing this, importers are not in a hurry to make aggressive purchases.
Domestic Scrap prices continues to decline by INR 200-300/MT as compared to last week. Weak buying sentiment has kept buyers away from market and volume remains thin.
Global Ship Breaking Prices as on 30 Jan’15
|
S.No. |
Country |
General Cargo |
Tanker |
||||
|
As on |
As on |
Change |
As on |
As on |
Change |
||
| 1 | Pakistan | 385 | 390 | – 5 | 410 | 415 | – 5 |
| 2 | India | 385-390 | 390 | – 5 | 410-415 | 415 | – 5 |
| 3 | Bangladesh | 390 | 385 | + 5 | 415 | 410 | + 5 |
| 4 | Turkey | 275 | 305 | – 30 | 285 | 315 | – 30 |
| 5 | China | 220 | 220 | 0 | 250 | 250 | 0 |
Prices in USD/ltldt
Alang is the largest ship recycling yard in Asia, which handled about 305 ships in 2013 and about 286 ships in 2014. Alang is also a major source for Scrap generation in India. However from Sep’14, number of ships to break has reduced to 16 (as average from Sep’14-Dec’14) from average of 28 ships (Jan’14-Aug’14).
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