Ship breaking prices in South Asian markets have increased by $10-15/LT w-o-w on improved trade activities, increased tonnages amid some encouraging signs, as positive movements on prices were reported across the countries.
India
Scrapped ships demand remains good with increasing bullish and speculative sales. Inline, several panamax containers were sold on rising firmer numbers this week.
— Fresh offers in India increased by $10/LT w-o-w & stand at $305/LT for Containers, $285/LT for Dry bulk and $295/LT for Tanker.
— Indian Rupee traded at INR 74.5 against the US Dollar. The total tonnage in the Alang port, India was reported last week at 198,064 LDT.
Deals
Three green recycling vessel deals were traded at decent prices which are mentioned below:
— DILYA (5,764 LDT), a Tanker at $162.5/LT (‘as is’ Rio).
— ER AMSTERDAM (24,717 LDT), a Container at $298/LT (‘as is’ OPL Alang with extra payment for bunkers for guaranteed HKC recycling).
— ER SEOUL (24,717 LDT), a Container at $305/LT (‘as is’ OPL Alang with extra payment for bunkers for guaranteed HKC recycling).
Bangladesh
Scrapped ships’ demand among cash buyers were good, while most of the buyers were still scrambling to secure their share of units.
— The price assessment for Bangladesh also surged by $10/LT w-o-w & stood at $320/LT for Containers, $300/LT for Dry bulk and $310/LT for Tankers.
— The total tonnage reported last week in the Chattogram port was at 176,210 LDT.
Pakistan
The prices reported upward direction in Gadani as there was good demand for tonnage. Meanwhile, major demand is seen towards LDT dry Vessels. Buyers finally get their aggression to secure units,
Interestingly, some of the local recyclers are now seeing a ship as an investment and a hedge against a depreciating currency.
— The fresh offers of ship breaking scrap to Pakistan surged by $15/LT w-o-w & hovering at $330/LT for containers, $310/LT for Dry Bulk & $320/LT for Tankers.
–The total tonnage reported last week in the Gadani port was at 14,704 LDT.
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