Bangladesh: Ship Breaking Prices Remain Stable, Deals Reported

Bangladesh ship breaking market has observed stability in terms of prices this week. According the price assessment, the prices in Bangladesh stood at USD 385/LT for Containers, USD 365/LT for Dry bulk and USD 375/LT for Tanker. Demand in Bangladesh market has remained at decent level as Chittagong based buyers are still active. As per GMS report, a container vessel KOTA HADIAH (5,313 LDT) was traded at USD 399/LT.

According to the released data by GMS it is observed that Bangladesh has imported about 170,684 Ldt Ship breaking scrap which includes dry as well as wet containers in Nov '19. And other countries are also inline like India 66,586 Ldt & Pakistan 9,193 Ldt.

India - Furthermore in India, after the amendment of the Recycling of Ships Bill, 2019; the more yards working to get their HKC certificates & the improving standards of green recycling continues in Alang. While no major trade reported in the Alang port this week.

Indian Rupee also recorded slight gain as against the US dollar i.e. INR 70 to near 72. The prices stood at USD 380/LT for Containers, USD 360/LT for Dry bulk and USD 370/LT for Tanker.

Pakistan - In Pakistan, trade activity remained on lower side however only the smallest LDT vessels reported. The prices for containers reached at USD 375/LT, Dry Bulk at USD 355/LT & Tankers at USD 365/LT.