South Asia: Imported ship breaking prices remain stable

South Asian ship breaking prices remained stable during the week and few deals were concluded in Bangladesh & India.

Bangladesh

Bangladesh remained stable in the sub-continent recycling market on the back of strong steel plate prices and some decent priced deals getting concluded in Chattogram. As per sources, with the budget coming up on 2nd June, 2021, it is uncertain just how much longer these sorts of levels will last for. As of now Bangladesh is favorably placed with yards continuing to fill with a plethora of vessels coming for sale.

• The Croatian built ALASFAL (16,694 LDT) Aframax tanker fetched at $535/LT from Greek owners.
  
  
• One tanker- Mar (17,977 LDT) arrived at the port.
  
  
• An Offshore Tug / Supply Vessel - Ocean 03 (1,900 LDT) arrived at the port.
  
  
• The total tonnage reported last week in the Chattogram port was 66,640 LDT, down by 26.04% w-o-w.
  
  

India

The second wave of Covid-19 has made a huge impact with hospitals overflowing with the sick and oxygen running out. As per the sources, whilst yards remain shut, steel prices firmed towards the end of the week and some buyers look to be banking on a forward delivery.

• One reefer was sold for an exceptional level, the CHINA FROST (3,431 LDT) fetching USD 502/LT LDT.
  
  
• One Drilling ship - Bully 1 (27,164 LDT) & a tanker namely Hansa (5,297 LDT) arrived at the port.
  
  
• A General cargo - Hajeh Hesen beached at the port (3,605 LDT).
  
  
• The total tonnage at the Alang port last week was 48,259 LDT, down by 33.60% w-o-w.
  
  

Pakistan

Pakistan continues to compete in the recycling market despite having missed out on so many units recently to their Bangladeshi counterparts. As per sources, most of the recent larger LDT sales into Bangladesh have been coming from the Far East, thereby saving delivery costs across to Pakistan, and Chattogram buyers have been paying higher for the most part as well. Prices remain firm in Gadani and demand is building by the week.

• A Barge - Camelot beached at the port (23,500 LDT).
  
  
• Two tankers - Costina (2,694 LDT) & GNA (1,190 LDT) beached at the port.
  
  
• Total tonnage reported at the Gadani port last week was 87,641 LDT, surge by around 30 times in a week.
  
  

Prices as on 27th April'21

Prices in $/LT
Source- SteelMint Research