Ship breaking: Deals surge at Gadani, offers rise by $10/LT

Pakistan’s Gadani port was the most active of sub-continental markets with sales concluded with cash buyers and other downstream buyers.

Average price for containers was at $350/LT, dry bulk at $330/LT & tankers at $340/LT. Offers rose by $10/LT w-o-w.

Deals

• ALBY MELODY (7,528 LDT), a bulker at $359/LT.
• MJ BULKER (8,071 LDT), a bulker at $352/LT.

The total available tonnage for sales in Gadani port last week stood at 14,204 LDT; two bulk carriers reported for breaking at the port, Bold Voyager & Navigator B.

India

The coronavirus pandemic continues to pressure demand, with limited lockdowns and disruption to economic activities reported in various places.

• Three sister vessels of 7,362 LDT, TOVE MAERSK, MCC MERGUI & MCC HA LONG was concluded at $233/LT(‘as is’ Singapore for guaranteed HKC Green Recycling).
• Fresh offers in India were at $315/LT for Containers, $295/LT for Dry bulk and $305/LT for Tanker.
•  The total tonnage in Alang last week was 139,027 LDT.

Bangladesh

The Chattogram market is competing with Pakistan in the non-green vessel breaking market, with Bangladesh being edged out of competition by Gadani.

• The prices in Chattogram port for containers reached at $325/LT, Dry Bulk at $305/LT & Tankers at $315/LT. The total tonnage reported last week in the port was at 79,756 LDT.