India: Scrapped ship imports increase by 20%, m-o-m, in Oct’22

Scrapped ships (7 vessels) totaling 83,438 LDT were delivered to the Alang yard for recycling in Oct’22, a 20% increase over 69,561 LDT delivered in Sep’22. Despite challenges such as fluctuating currency exchange rates and regulations in Alang, prices stayed mostly stable because of the shortage of tonnage. Buyers were seen booking mostly small or mid-sized tonnages.