Ship breaking prices maintained stability with few deals on the basket. Buyers from Pakistan actively booked few cargoes, while a couple of deals were being reported through the Indian & Bangladeshi buyers.
India
SteelMint’s weekly price assessment showed a stability in imported ship breaking offers. The deals stood at around $350/LT for containers and $340/LT for Tanker.
Demand for ship breaking scrap remained firm in the Indian market over increased prices of substitute materials as raw material prices are strong in the domestic market & two vessel deals were traded at decent prices.
- The sale of VLOC JANICE N (38,106 LDT) is reported to have been confirmed to buyers for HKC recycling into India, at $330/LT.
- The USSR built fishing trawler PRIBOY (3,924 LDT) was finalised at $395/LT.
- The total tonnage reported in the Alang port last week was at 52,028 LDT. One Vehicle Carrier beached in the port namely Polaris Ace (12,700 LDT).
Bangladesh
Bangladesh ship breaking prices remained stable on a w-o-w basis. Demand of scrapped ships among cash buyers was low. And in recent weeks the Bangladesh buyers remain behind India and Pakistan.
- A trade was reported of FSU SRIRACHA EAGLE (15,629 LDT) at $310/LT for Thailand delivery.
- A fire damaged tanker with a weight loss was reportedly concluded at $278.50/LT, namely JAG LEELA (15,082 LDT), delivered at Belawan.
Pakistan
The country still remains top-placed recycling market for another week. It has managed to secure some deals with best prices across the subcontinent. There were a total three vessel deals reported to take place this week.
- A bulker was traded, namely BARA ANUGERAH (10,283 LDT) at $338/LT.
- A tanker deal was reported, namely AL NABILA 5 (9,185 LDT) at $384/LT.
- A general cargo vessel, STAR B (4,690 LDT) managed to fetch the deal at $366/LT.
- Total tonnage reported in the Gadani port last week was at 36,469 LDT.
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