Ship breaking prices in Asian markets saw an uptick of $10/LT as demand remains good in all markets. Bangladeshi market continues to outshoot its competitors by a huge margin.
Bangladesh
In the last week too saw Bangladesh consistently leading the way in the sub-continent recycling market. As per the sources, the End Buyers have hopes on the market, as an increase in the prices of local scrap has been seen over the recent weeks including the extraction and cutting costs. Mills in Dhaka have also been aggressively booking imported scrap this week.
- The FPSO PERISAI KAMELAI (23,578 LDT) was concluded at $410/LT on ‘as is’ Johor delivery basis.
- The total tonnage reported last week in the Chattogram port was 92,334 LDT.
- Two General Cargo – Mandalorian (1,929 LDT) & Mandalorian 2 (1,904 LDT) have beached at the port.
India
India takes a step back this week. As per the sources, steel prices tend to decrease during the week. While the Indian Rupee continues to trade firmly at INR 72.5 against the U.S. Dollar. Moreover, an increase in the covid cases could lead to another lockdown.
- One Chemical Tanker – Pvt. Sea Lion (4,453 LDT) & a RoPax namely- Rahal (3,605 LDT) arrived at the port.
- An Oil tanker – Jizan arrived at the port (1,630 LDT).
- The total tonnage at the Alang port last week was 20,265 LDT.
Pakistan
Pakistan is struggling to lead the way as tonnage continues to be at low levels. As per sources, Pakistan is approaching sales candidates with a fear of being outgunned by their Chittagong competitors.
- Total tonnage reported at the Gadani port last week was 6,918 LDT.
- A Bulk Carrier named ABM Discovery (6,918 LDT) was beached at the port on 20th Mar ’21.
Prices in $/LT
Source- SteelMint Research
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