As per GMS report, ship breaking prices in global market remains at similar levels, while demand & supply are positive as few trades of large LDT marked in major markets.
Demand in Bangladesh market has remained strong as buyers are still looking to fill their plots before the end of the year and one sale reported for Chittagong based buyer. As per GMS report, a Petrobras MR tanker was traded, namely LORENA (10,845 LDT) at USD 328/LT. Thus with this deal, the prices in Bangladesh stood at USD 385/LT for Containers, USD 365/LT for Dry bulk and USD 375/LT for Tanker.
Furthermore, ship breaking scrap imports in Bangladesh surged by 5.3% to 70,969 LDT in Nov’19, M-o-M.
However, no major sales reported in Indian port over steady supply of HKC tonnage. Inline imports of scrapped ship to India – Alang, Gujarat has registered sharp fall of around 42.2% M-o-M to 66,586 LDT in Nov’19.
Also, Indian Rupee remained at firm level as against the US dollar i.e. INR 70.90. The prices stood at USD 380/LT for Containers, USD 360/LT for Dry bulk and USD 370/LT for Tanker.
Meanwhile, Pakistan market is gearing up with increased inquiries amid small LDT deals to Gadani port. The prices remains same and stands at USD 375/LT for containers, USD 355/LT for Dry Bulk & USD 365/LT for Tankers. The Ship breaking scraps imports in Pakistan increased to to 9,193 LDT in Nov’19.
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