South Asia: Imported ship-breaking offers up $10/t w-o-w

Ship recycling prices saw an uptick of $10/light displacement tonnage (LDT) last week in India. However, Bangladesh still remains the top-ranked ship recycling destination at the moment, although , Pakistan is trying hard to compete against its counterparts.

Bangladesh

Bangladesh is leading the sub-continent recycling market as there have been some impressive deals at around $600/LDT in recent weeks. According to sources, prices are more likely to cool off going into the fourth quarter of the year as Covid-19 cases are on the rise, particularly in Bangladesh, which had recently loosened its restrictions. There is now talk of further lockdown measures to slow down the spread.

• Two tankers, B.P.P. 26 of 1,114 LDT and Kapitan Ponikarovskiy of 3,423 LDT arrived at Chattogram.
  
  
• A general cargo, Harin Transport 17 of 798 LDT, was berthed at Chattogram.
  
  
• A tanker, Royal Coop of 2,263 LDT, also arrived at the port.
  
  
• Total tonnage reported last week at Chattogram Port was 7,598 LDT, down 80% w-o-w.
  
  

India

Alang buyers came back strong into the recycling market last week, trying to win some vessels away from hungry Pakistani and Bangladeshi end- buyers. According to sources, one sale was concluded last week strictly for HKC NK class recycling. Also, one or two specialist units such as reefers, passenger vessels and stainless-steel tankers also arrived for Indian recyclers.

• Ostrovnov 11, a fishing vessel (3,504 LDT), arrived at Alang Port.
  
  
• A passenger vessel, Tros (15,486 LDT), was beached too.
  
  
• Total tonnage at Alang Port last week amounted to 48,828 LDT, up by 120% w-o-w.
  
  

Pakistan

Pakistan needs to raise its game in order to compete with Bangladesh counterparts. According to sources, the Pakistani market isn't at or above $600/LDT yet and Chattogram recyclers have started to divert perfectly positioned Gadani tonnage away from Pakistani shores.

• Two tankers, Elka Aristotle (17,000 LDT) and Elka Eleftheria (10,000 LDT), were beached at Gadani Port.
  
  
• A general cargo, Qatar Sadiq 2 (1,500 LDT), arrived too.
  
  
• Total tonnage at Gadani Port last week was reported at 66,829 LDT, down by 24% w-o-w.
  
  

Prices as on 2nd Aug'21

Prices in $/LDT
Source- SteelMint Research