Global Ship Breaking Market: Indian & Bangladeshi buyers Remain Active
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Imported ship breaking scrap prices for India & Bangladesh has observed stability this week, while offers to Pakistan came down by USD 10/MT with no fresh deals.
India
The prices of imported containers remained firm for Indian buyers, although falling domestic steel prices along with weaker rupee has forced buyers to remain silent for any further major bookings.
-- Last week, the Indian rupee settled at INR 72.17 as against U.S. Dollar, compared to the previous week at INR 71.88.
-- Ship breaking prices to India remained firm at USD 400/LT for Containers however, the same dropped by USD 10/MT to USD 380/LT for Tanker. Offers for Dry bulk came down to USD 370 / LT.
Deals
- JINAN (2,304 LDT), a General Cargo at USD 345/LT LDT.
- NPS CENTURY (22,159 LDT), a Bulker at USD 389/LT LDT.
- The total tonnage reported in the Alang port last week was at 79,200 LDT.
Bangladesh
Demand of scrapped ships by Chattogram buyers remained limited as only a couple of deals were reported, even though the nation managed to remain at the top in ship breaking purchases in the South Asia.
There were two fresh deals reported in Bangladesh, however they were quite lower in price as the vessel was just discharging cargo off Chattogram, and hence the suppliers were reluctant to divert the same to somewhere else.
-- The price assessment for Bangladesh stood firm at USD 390/LT for Containers, however the same dropped by USD 10/MT to USD 370/LT for Tanker. The total tonnage reported last week in the Chittagong port was at 56,032 LDT. Offers for Dry bulk dropped to USD 360 / LT.
Deals
- ARMADA PAPUA 5,249 LDT), a Container at USD 381/LT LDT.
- YU HUA (7,636 LDT), a Bulker at USD USD 360/LT LDT (with 500 Tons of bunkers on delivery).
- The total tonnage reported last week in the Chattogram port was at 136,107 LDT.
Pakistan
The buyers of Pakistan once again remained away to take position. Overall, it was another worst week for cash buyers dealing with Pakistan on any unsold or fresh market tonnage at Gadani.
-- The fresh offers of imported scrap to Pakistan dropped by USD 10/MT W-o-W with fresh offers of USD 370/LT for containers, USD 350/LT for Dry Bulk & USD 360/LT for Tankers. The total tonnage reported last week in the Gadani port was at 7,844 LDT.
