As per custom report release, three bulk vessels in Chennai are lined up for next week. Sources mentioned, all of the three vessels belong to MTC group.
First vessel named as Tai Shan, carrying 10,150 MT of scrap (Shredded and HMS), is expected to arrive Chennai port by 22 Mar’16. The vessel is sailed from Japan. As per sources, the vessel was bought by MTC and completely sold to Suryadev Alloys, Chennai at around USD 220-225/MT, CFR India.
Second vessel named Sea Star is from USA, carrying 44,000MT Shredded scrap. The vessel is expected to arrive Chennai port by 23 Mar’16. As per sources, out of 44,000 MT of scrap bought by MTC, 80% of the material is sold to a dozen of parties in varied range of USD 215-225/MT, CFR India.
Third vessel named Victoria Harbour, carrying 19,300MT of Shredded, is also shipped from USA. The vessel is completely unsold. Looking at bullish sentiments prevailing in steel market, the importer is expecting USD 235-240/MT levels for sale. The vessel is about to reach Chennai port by 23 Mar’16.
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