Ship breaking prices in the South Asian market remains uncertain due to mismatch in demand & supply.
India
Scrapped ship demand in Indian market slows down & several cash buyers struggling to offload their inventory at anywhere near break-even levels.
— Ship breaking prices in India stood at $305/LT for Containers, $285/LT for Dry bulk and $295/LT for Tanker. Offers declined by $10/LT w-o-w.
— The Indian Rupee against the US dollar stood about INR 76.
— Two green recycling Japanese containers were traded at decent prices for prompt end June deliveries:
– MELANESIAN PRIDE (5,607 LDT), a Container at $270/LT.
– SAMOA4 (5,719 LDT), a Container at $270/LT.
– The total tonnage reported in the Alang port last week was at 47,456 LDT.
Bangladesh
No major price change seen in the Bangladesh market. However no major announcement was made in the annual budget last week related to the ship breaking market.
— A woodchip carrier from Singapore, IRIS EXPRESS (9,508 LDT) was concluded at $301/LT.
— The price assessment for Bangladesh stood at $310/LT for Containers, $290/LT for Dry bulk and $300/LT for Tanker.
— The total tonnage reported last week in the Chattogram port was at 191,211 LDT.
Pakistan
— The fresh offers of ship breaking scrap to Pakistan is at $315/LT for Containers, $295/LT for Dry Bulk & $305/LT for Tankers. Offers rise by $15/LT w-o-w
— The total tonnage reported last week in the Gadani port was at 25,832 LDT.
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