Imported ship breaking offers stable with no fresh deals

Ship breaking activities in South Asia remained firm for nearly three weeks, however the resurgence of pandemic cases has taken the focus of cash buyers away from ship recycling.

Bangladesh

Bangladesh continued to struggle in the sub-continent recycling market as the government extended the nationwide lockdown for another week. As per sources it was a relatively quieter week of sales and activity and upcoming ship deliveries will certainly be subject to a slower process, with many yards and customs offices now closed. Even the local port position had shrunk to a trickle, especially after last week’s bonanza beaching week.

• One LNG Tanker- Atlantic Energy (28,017 LDT) arrived at the port.
  
  
• A Tug - N Ping (335 LDT) arrived at the port.
  
  
• The total tonnage reported last week in the Chattogram port was 28,352 LDT.
  
  

India

Covid-19 cases continue to escalate in the country. As per the sources, local steel plate prices remain relatively steady. The Indian Rupee has been spiraling out of control, dropping from INR 73.2 early in the week as against the U.S. Dollar, to nearly INR 74.8. Lack of available units and the absence of HKC vessels, have made end buyers to focus on non-ferrous vessels.

• One Chemical Tanker - Theresa Dua (5,282 LDT) & a Passenger namely Colus (29,058 LDT) arrived at the port.
  
  
• A Drill Rig - Brass XII beached at the port (11,521 LDT).
  
  
• The total tonnage at the Alang port last week was 55,046 LDT.
  
  

Pakistan

Pakistan is firmly competing against its competitors as they had not yet announced a nationwide lockdown of its own. As per sources, prices remain hot on the heels of the rampant Bangladeshi market, despite the arrival of a VLCC and a VLOC in recent weeks. We can expect Gadani recyclers to be the market leaders before too long.

• A VLOC named Sino Carrier (39,125 LDT) & a Bulk Carrier namely Power Loong (9,702 LDT) was beached at the port.
  
  
• Two tankers - Target (3,672 LDT) & R Rose (2,150 LDT) beached at the port.
  
  
• Total tonnage reported at the Gadani port last week was 1,097 LDT.
  
  

Prices as on 13th April'21

Prices in $/LT
Source- SteelMint Research