India's Ship Recycling Import Volumes Hit 4-Month High in Apr'19

Alang - one of the largest ships breaking yard in the world located in Gujarat- western India, has registered sharp growth in imports of scrapped ships and the volume is 4 months high since Dec'19, as per custom data maintained by SteelMint.

As per data, scrapped ships import in India reached at 124,614 LDT in Apr'19, which is highest since Dec'18. Also the Apr'19 imports grew by 8.9% M-o-M as against 114,387 LDT in Mar'19.

However, on yearly comparison, the ship breaking import volumes have slightly increased by 1.16% in Apr'19 in comparison with 123,177 LDT in Apr'18.

In line with total number of demolished ships in Alang was marked at 17 number in Apr'19, increased by 4 numbers on M-o-M basis.

In Apr'19, the total quantity beached in the port of Alang, Gadani & Chittagong is at 454,720 LDT, recorded a rise of 6% M-o-M as against 428,749 LDT in Mar'19.

While Bangladesh remains topped in the buyers list of scrapped ships in Apr'19 with 315,474 LDT with 26 number of ships, surge by 1% M-o-M as against 312,397 LDT in Mar'19. Inline, Pakistan stood as 3rd in the ship recycling in Gadani port at 14,632 LDT with 2 number of ships, the data received from GMS showed.

Price Scenario -

As per our last assessment, prices for imports in India stood at USD 425/LT for Tankers, USD 435/LT for Containers & USD 415/LT for Dry bulk. Offers declined by USD 5/MT as most participants in the ship recycling industry are in a wait & watch mode due to election season.

Meanwhile in Bangladesh, buyers are not active for scrapped ships over festive season. Prices fell by USD 10/MT this week & stood at USD 440/LT for Containers and USD 430/LT for Tanker.

In the same line, Pakistan prices for Containers reached at USD 430/LT, Dry Bulk at USD 410/LT & Tankers at USD 420/LT.