South Asian Ship breaking markets have started to display signs of getting back into the action with a slow process.
With the end of Eid festival, Indian & Pakistani buyers turned active with a couple of vessels booked, also the restrictions in the subcontinent markets are easing day by day. In line with this, foreign crew on incoming vessels are being permitted to beach after an appeal to authorities to allow the same.
While in the pricing part, imported ship breaking scrap prices have observed stability in the last week.
— Ship breaking prices in India stood at USD 320/LT for Containers, USD 290/LT for Dry bulk and USD 310/LT for Tanker.
— The Indian rupee settled at INR 75.50 as against U.S. Dollar, compared to the previous week at INR 76.
Deals in India
Two HKC green recycling vessels were traded at decent prices which are mentioned below:
— GRAND (5,645 LDT), a Container at USD 280/LT LDT (‘as is’ Singapore).
— KOKURAP (33,100 LDT), a Container at USD 330/LT LDT.
— The total tonnage reported in the Alang port last week was at 58,394 LDT.
Bangladesh
Many vessels that have been idling at Chattogram anchorage will be allowed to disembark after beaching. Although, the demand of scrapped ships among cash buyers were low.
— Price assessment for Bangladesh stood at USD 310/LT for Containers, USD 280/LT for Dry bulk and USD 300/LT for Tankers.
–The total tonnage reported last week in the Chittagong port was at 128,914 LDT.
Pakistan
The scrapped ship market is gearing up with increased supply of vessels in Gadani port. One high profile capesize bulker & VLOC were traded at decent prices which are mentioned below:
— NEW ATHENS (21,155 LDT), a Bulker at USD 315/LT LDT.
— ADAMASTOS (33,100 LDT), a MPP at USD 295/LT LDT.
— Price assessment for Pakistan stood at USD 300/LT for containers, USD 270/LT for Dry Bulk & USD 290/LT for Tankers.
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