South Asia: Ship breaking trades improve at firm offers

Ship breaking prices in South Asian markets have remained stable, however trade activities improved amid increased tonnages.

India

SteelMint’s weekly price assessment of Alang stood at around $350/LT for containers, $320/LT for Dry bulk and $340/LT for Tanker. The Indian Rupee against the US dollar stood near about INR 73.5.

Demand for ship breaking scrap in Indian market remained well as a series of HKC green sales for India reported

HKC green sales reported

• A latest sale of a container from the Taiwanese owner- EVER DECENT (21,731 LDT) at $345/LT ‘as is’ Hong Kong.

Petrobras auctioned off 3 tankers on an en bloc basis

• PIRAI (13,609 LDT), a tanker at $219.5/LT.
• PIRAJUI (13,561 LDT), a tanker at $219.5/LT.
• PEDREIRAS (14,228 LDT), a tanker at $219.5/LT.

The total tonnage reported in the Alang port last week was at 18,535 LDT. One Vehicle Carrier arrived in the port namely Cosmos Ace (12,783 LDT).

Bangladesh

The ship recycling industry is steadily picking pace in Chattogram and has managed to secure a couple of tanker / FSU units last week.

Two vessel deals concluded last week.

• Sinokor sold their container vessel namely SINOKOR YOKOHAMA (4,768 LDT) at $385/LT.
• A Chinese owner sold their 2003 built MPP unit YU RONG (11,838 LDT) at $378/LT.

The prices in Bangladesh stood at $360/LT for Containers, $330/LT for Dry bulk and $350/LT for Tanker.

The total tonnage reported last week in the Chattogram port was at 12,413 LDT. One bulk carrier arrived in the port namely Bashundhara 6 (7,125 LDT).

Pakistan

After the large impressive sales in monsoon the Gadani recycling yards are starting to fill up that sentiment & demand is finally starting to cool off locally.

Smaller LDTs deal reported in the last week

• ELIT (4,360 LDT), a General Cargo at $355/LT.
• NAZLICAN (3,898 LDT), a General Cargo at $353/LT.
• TRANSFAIR (2,990 LDT), a General Cargo at $351/LT, En bloc basis.
• TRANSOCEAN (5,262 LDT), a Bulker at $351/LT, En bloc basis.

The prices in Gadani stood at $370/LT for Containers, $340/LT for Dry bulk and $360/LT for Tanker.

The total tonnage reported in the Gadani port, Pakistan last week was at 153,656 LDT, three VLOC arrived in the port namely Stellar Galaxy (39,720 LDT), Stellar Eagle (39,808 LDT) & Rea (39,231 LDT).