Indian Ship Breaking Decreased by 43% in Nov’16

The number of ships arriving for demolition in Alang (Gujarat) have declined by 43% in Nov’16.

Total 17 ships have arrived to Alang in November , which were 30 ships in the month of Oct’16 and 22 ships in Sep’16. As per Nov’16 Total 169,229 LDT had arrived, while the total tonnage this year till now is 30,97,140 LDT in comparison to 2015 that is 17,61,520 LDT.

There are still 8 ships waiting for breaching for this month and 1 vessel is expected to arrive.

Due to rising price of raw material and steel in domestic market the Ship breaking prices in Indian market increased by INR 100-500/MT M-o-M and currently hovering in the range of INR 18,000-20,200/MT.

The imported scrap offers in the month of November increased by USD 43/MT M-o-M. Also the billet prices have increased by INR 2000/MT in south India during this month.

Global Ship Breaking Price Sentiments

As per custom report, ship breaking trade in India declined by USD 10/MT (general cargo) and due to ongoing meeting and inspection in Pakistan the market is closed & price have declined by USD 5/MT (general cargo) in week 49. However, Bangladesh remained stable as last week.

In India, prices are assessed at USD 260/lt Ldt for general cargo and USD 290/lt Ldt for tanker.

Global ship breaking prices (in USD/lt Ldt) in week 49