Ship Breaking Offers Steady in South Asia

As per update, ship breaking prices in global market has seen at strong level as supply and demand ramp up amid positivity returns in the market. SteelMint's weekly price assessment showed, improved activities in imported ship breaking & offers remained strong.

As per data collected from GMS, no major sales in Indian port, despite the prevalence of several HKC green units in the hands of various Cash Buyers. Meanwhile Indian Rupee remains at firm level as against the US dollar i.e INR 71, trade activities of scrapped ships in India remain same as domestic plate price rise marginally. Inline with this, the prices stood at USD 380/LT for Containers, USD 360/LT for Dry bulk and USD 370/LT for Tanker.

Similarly in Bangladesh, prices more or less firm and stood at around USD 375/LT for Tankers, USD 385/LT for Containers & USD 365/LT for Dry Bulk. During the week, Bangladesh market has been the most stunning and two sales reported for Chittagong based buyers. As per market sources report, two vessels were traded, namely FPSO PERINTIS (24,200 LDT) at USD 320/LT & bulker NORDIC BOTHNIA (9,912 LDT) at USD 385/LT.

Meanwhile Pakistan market has emerged back with more tonnage at Gadani port. The prices remains on upper side with wait & watch mode and stands at USD 375/LT for containers, USD 355/LT for Dry Bulk & USD 365/LT for Tankers.