India's Ship Recycling Volumes Increase Sharply in November

Alang based in western part of India and known as world's largest ships breaking yard, has recorded significant rise in ship breaking imports by about 62% M-o-M in Nov'18.

As per custom data maintained by SteelMint, the imports of ship breaking in Alang stood at 0.21 Light Displacement Tonnes (LDT) in Nov'18 as against 0.13 LDT in Oct'18, surge by 62% M-o-M.

As per industry experts, the recycling of scrapped ships have increased in line with slump in imported offers by USD 10/LDT at the beginning of Nov. Also at the same time domestic ship breaking scrap prices increased considerably by INR 1,000/MT (USD 15). This forced importers to book ships at lowered prices and they might have preferred to break & sell later.

Similarly on yearly comparison, the Ship Breaking volumes have increased by 62% to 0.21 LDT in Nov'18 compared to 0.13 LDT in Nov'17.

Further, in CY18 (Jan-Nov) it registered at 2.12 LDT which increased slightly by 2% against 2.08 LDT on same time frame in CY17.