New Bulk Scrap Import Vessel Reported at Bangladesh Port

According to customs data maintained with SteelMint, a bulk vessel 'CS Calla' carrying 32,980 MT ferrous scrap from Australia is seen at anchorage in Chittagong port.

So far in Nov'17 (till 23 Nov'17), six bulk import vessels carrying total quantity of 147,350 MT scrap arrived at berth. And five bulk import vessels carrying 160,340 MT scrap are still seen at anchorage position in Chittagong port.

In Oct'17, bulk scrap import in Bangladesh was recorded at 123,420 MT. So far in this fiscal (till Oct'17) Bangladesh has imported 291,590 MT scrap compared to 246,900 MT in the same time period last year.

Bangladesh scrap importers are still facing issues of prolonged port congestion resulting in the increased waiting time for scrap vessels and high freight charges.

Current assessment for UK origin Shredded scrap stands at USD 350/MT, CFR Chittagong port against previous week's assessment of USD 345/MT, CFR. Thus, offers have moved up by USD 5/MT W-o-W. Bangladesh steel mills were seen preferring local ship breaking scrap against imported as the former is still cheaper and to avoid waiting time period of the imported scrap vessels. However major steel mills expect imported scrap buying to resume soon as a restocking measure.

Prices for ship breaking have shown slight upward movement this week by USD 5 on W-o-W basis. The latest prices assessed at USD 380/LDT for general cargo and USD 400/LDT, CFR Bangladesh for tanker cargoes.

Bulk Vessel line-up (Scrap) as updated on 23rd Nov'17 -

Source- Vessel Line Up & SteelMint Stats