India continues to buy bulk scrap cargo. The country is said to be actively participating in the buying activity.
According to sources, “Around 9-10 vessels have been booked for Indian market. The vessels are said to be delivered at Kandla, Mudra, Vizag and Chennai. These vessels are expected to reach India in the month of June 2017.”
The vessels are said to be booked by:
| No. of vessels | Company Name |
| 4 | MTC |
| 1 | GALLANT + ASR |
| 1 | MONO STEEL |
| 1 | EMR |
| 1 | SURYA DEV |
| 1 | IMR RESOURCES |
| 1 | ADANI |
Note : as per market report
Total of 29 vessels were booked in 2016 and a total of 12 vessels are booked till now in 2017.
Bulk scrap bookings are being preferred by the Indian importers as the Freight charges for containerized cargo globally have continued to be on the higher side after which it is feasible to buy bulk scrap. The reported price for containerized shredded scrap is said to be at USD 300-305/MT CFR India (US) and Bulk scrap is said to be at USD 290-300/MT.
As the freight charges for containerized scrap are on a higher side in the global market. It is expected that there are more and more of bulk scrap vessels booking will be done as compared to containerized cargo.
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