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 Pakistan but still fell short against Bangladesh.

Meanwhile, India has been slowly coming up behind the prolific Pakistan and Bangladeshi counterparts. However, prices are stable in India and Bangladesh.

Bangladesh

Bangladesh was the first market to cross above $600/LDT, with some of the highest numbers, first seen among the sub-continental recyclers during the boom year of 2008, being repeated this time. With a relative slowdown in supply and activity over these monsoon months, any available unit is being taken by end-buyers, which is once again pushing up prices.

• Two ceneral cargo, Harin Transport 17 of 798 LDT, and Lark, measuring 735 LDT, arrived at Chattogram Port.
  
  
• An FSO, G Star, of 42,686 LDT, was also beached at Chattogram.
  
  
• A tanker, Palladiy, of 3,131 LDT, also arrived.
  
  
• Total tonnage reported last week at Chattogram Port was 56,020 LDT, up by 637% w-o-w.
  
  

India

Indian recyclers have been behind their rather prolific Pakistan and Bangladeshi counterparts. They have been busy acquiring the odd HKC and specialist units, to keep local yards engaged. According to sources, there is an ongoing transport strike in Alang, which is not making it possible to move products from domestic yards for the time being. The Indian rupee (INR) is also trading at 74.18 against the US dollar, and local steel plate prices seem to be on an upward trajectory.

• Vega, a trawler vessel (3,190 LDT), arrived at Alang Port.
  
  
• A chemical tanker, Simba (10,846 LDT), was beached at the port.
  
  
• A passenger vessel, World (under tow) of 8,056 LDT, was also beached .
  
  
• Total tonnage at Alang Port last week amounted to 27,302 LDT, down by 44% w-o-w.
  
  

Pakistan

Pakistani buyers bounced back last week with offers of around or above $600/LDT for certain units. Chattogram recyclers have been securing even geographically positioned units viable for a Pakistan delivery. Therefore, some improvement from Gadani end-buyers was clearly needed. According to sources, it is hard to say whether prices will remain just as firm going into the second half of the year.

• Two tankers, Dreamer (9,624 LDT) and Lila Dubai (18,055 LDT), were beached at Gadani Port.
  
  
• A general cargo, Qatar Sadiq 2 (1,500 LDT), was beached too.
  
  
• A tanker, Aston I, measuring 8,273 LDT, also arrived .
  
  
• Total tonnage at Gadani Port last week was reported at 39,352 LDT, down by 41% w-o-w.
  
  

Prices as on 9th Aug'21

Prices in $/LDT
Source- SteelMint Research