Ship breaking prices in Asian markets have further increased by USD 5/LT W-o-W as demand and market sentiments remain positive.
The global ship breaking market was strong with impressive sales & increased numbers, however last week there was no major trade, as sources observed. As of now in several yards, Cash Buyer hands were fixed at some impressive numbers (in tonnage).
Bangladesh remains the most active location over the past few weeks, with the largest LDT units and several VLOCs have been sold to Chattogram buyers. The scrapped ships offer increased by USD 5/MT W-o-W and stood at around USD 380/LT for Tankers, USD 390/LT for Containers & USD 370/LT for Dry Bulk.
Also optimistic sentiments continued in Indian market as both green and non-green sales were reportedly concluded into the Alang port with increased numbers. Meanwhile, Indian Rupee traded nearly INR 71 against the US Dollar. Although, the prices of imported ship breaking up by USD 5/LT W-o-W to USD 400/LT for Containers, USD 380/LT for Dry bulk and USD 390/LT for Tanker.
However Pakistan remains a way behind their competitors despite increased enquiries. In recent weeks, the imported ship breaking prices to Pakistan slightly up by USD 5/LT and stands at USD 380/LT for containers, USD 360/LT for Dry Bulk & USD 370/LT for Tankers. Furthermore, the nation has a challenging time ahead as most of the infrastructure surrounding the ship recycling industry & yards has shut down.
Overall, in South Asia scrapped ship market are performing well at the moment with improved demand and the buyers are hoping the market will remain firm in the same level.
Leave a Reply