India's Ship Recycling Import Volumes Drop 20% in Aug'19

In Aug'19, scrapped ship imports in India - Alang, Gujarat has registered a fall of around 19.2% M-o-M after reaching 7 months high in July'19, as per custom data maintained by SteelMint.

As per data, scrapped ships import in India reached at 157,729 LDT in Aug'19, imports plunged by around 37,500 LDT as against in Jul'19. Similarly on yearly comparison, the ship breaking import volumes have decreased by 7.08% in Aug'19 as against 147,289 LDT in Aug'18.

With rising demand of steel scrap globally, the total number of ship demolish in India, Bangladesh & Pakistan was marked at 327 in Jan-Aug'19.

In Jan-Aug, the total number of demolished ships in Alang was marked at 129 number in 2019, however the number decreased by 31% on Y-o-Y basis as against 188 number of ships in 2018. Meanwhile, Bangladesh procured around 174 (46%) scrapped ships & Pakistan demolished around 24 number of ships in FY19.

Further more in Aug'19, the total quantity beached in the port of Alang, Gadani & Chittagong is at 253,236 LDT, as against 265,258 LdT a month ago. However, ship breaking scrap import in Bangladesh surged by 32.1% to 70,969 Ldt & Pakistan by 51.2% to 24,538 LdT on Monthly basis.

Ship Breaking Prices, Week 37

Basic prices in USD/LDT
Source: SteelMint Research