Ship breaking prices in Asian markets saw an uptick after 2-months stability. The prices increased by $10/LT w-o-w, as per SteelMint’s weekly assessment.
India
Our assessment showed an improvement in imported ship breaking offers in India. The offers stood at $360/LT for containers, $330/LT for Dry bulk and $350/LT for Tanker.
As Indian buyers are short of tonnage, keen end-buyers are seen getting out of their comfort zones, in order to get their hands on select preferred units that are available for a recycling sale.
- The Indian Rupee remained firm considerably, trading around INR 73.5 as against the U.S. Dollar.
- The total tonnage reported at the Alang port last week was at 60,651 LDT. Two Vehicle Carriers arrived at the port, namely Continental Highway (15,274 LDT) & Nippon Highway (14,146 LDT).
Bangladesh
Bangladesh ship breaking prices surge by $10/LT on a w-o-w basis. Demand of scrapped ships increased among the cash buyers. The price-controlling cartel formed in Chittagong has had a bit of a frustrating few weeks, while Bangladeshi market managed to secure a handful of small LDT bulkers over the past few weeks at knockdown prices.
- The prices stood at around $360/LT for Tankers, $370/LT for Containers & $350/LT for Dry Bulk.
- The total tonnage reported last week in the Chittagong port was 152,443 LDT. A Vehicle Carrier namely Single Eagle (4,595 LDT) arrived on 21st Oct at the port.
Pakistan
Gadani still remained as the top recycling market with most of the ships beaching here due to more competitive prices for vessels against India & Bangladesh. In recent, Pakistan has been dealing with containers at $380/LT.
- The scrapped ship prices increased by $10/LT & stood at $350/LT for Dry Bulk & $370/LT for Tankers.
- A smaller LDT bulker named POLINA (6,735 LDT) managed to fetch an exceptional price of USD 386/LT.
- Total tonnage reported at the Gadani port last week was 71,442 LDT. Two MPP beached at the port namely Pac Adara (10,358 LDT) & Pac Alkaid (10,581 LDT).
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