Bangladesh: Ship breaking offers up by $20/LT on demand for scrapped ships

Ship breaking offers in the Bangladeshi market increased this week with rise in steel scrap demand and domestic steel prices.

Imported ship breaking offers increased by $20/LT in Chattogram at $390/LT for Tankers, $400/LT for Containers & $380/LT for Dry Bulk, according to Steelmint analysis.

Chattogram-based buyers concluded a few larger VLOC sales directly. Local steel plate prices improved sharply (by nearly $34/t).

• Two tankers arrived at the port in the last week- Bosporus (14,205 LDT) & Prospery (2,766 LDT).
  
  
• The total tonnage reported in Chattogram last week was 30,730 LDT.
  
  

India

Alang market continued to remain competitive and secured its monopolistic share of HKC green tonnage as well as smaller LDT units that may come to their way.

Prices in Indian market rose by $10/LT & stood at $380/LT for Containers, $360/LT for Dry bulk and $370/LT for Tankers.

• A tanker - TAIHUA SPIRIT (5,677 LDT) from Chinese owners managed to fetch $760/LT, with 1,100 Tons of solid stainless steel Avesta 2205 on board and 400 t bunkers on delivery.
  
  
• Petrobras auctioned its tanker CARTOLA (22,870 LDT) at $388/LT "as is" Galang, Indonesia delivery, with about 1100 t of bunkers remaining on board, for an HKC green recycling sale.
  
  
• Total tonnage reported last week in the Alang port was 73,441 LDT. Last week, one Passenger Vessel beached at the port - Karnika (31,046 LDT).
  
  

Pakistan

Prices at Gadani port remained firm this week. However, buyers continued to secure tonnage at decent rates. Gadani market missed out a few larger LDT VLOCs to a resurgent Bangladesh over the last couple of weeks.

• The prices stood at $390/LT for containers, $370/LT for Dry Bulk & $380/LT for Tankers.
  
  
• A general cargo vessel SARAH F (4,462 LDT) was finalized at $389/LT
  
  
• The bulker SILVER SHARK (5,636 LDT) was concluded at $390/LT.
  
  
• The total tonnage reported in Gadani last week was 2,220 LDT.