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South Asia: Imported ship breaking prices remain stable

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Ship Breaking

BigMint Bureau

617 Reads

6 Apr 2021, 15:40 IST

South Asia: Imported ship breaking prices remain stable

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

Bangladesh

After consistently leading the way in the sub-continent recycling market, Bangladesh is about to take a setback, as the government has announced another lockdown for domestically populated areas. As per the sources, the key trading and demolition port will remain open and out of the lockdown jurisdictions. However, customs will have to operate on a limited scale and ship recycling yards will most likely close down. This may lead to a potential backlog of material and local recyclers may eventually struggle to shift product. This may lead to prices coming down again.

One OBO - Sinomerchant (37,478 LDT) beached at the port.
Two tankers - Sun 1 (19,864 LDT) & Hari Sagar (2,567 LDT) beached at the port.
An LPG - Jisan Gas beached at the port (2,078 LDT).
The total tonnage reported last week in the Chattogram port was 92,334 LDT.

India

Rising covid cases in India is becoming a matter of concern and more stringent lockdown measures are on the cards which may dampen spirits.

As per sources, local steel markets and the currency remain well positioned as another stainless-steel chemical tanker was sold this week as the ELEGANT (3,292 LDT) fetched another impressive $645/LT basis an ‘as is’ Khor Fakkan delivery.

One Chemical Tanker - Pvt. Sea Lion (4,453 LDT) arrived at the port.
A Drilling Unit - Freddy beached at the port (8,744 LDT).
The total tonnage at the Alang port last week was 20,265 LDT.

Pakistan

Pakistan is finally able to compete against its competitors. As per sources, prices remain positively positioned and End Buyers have started to compete with a rampant Bangladeshi market. Steel prices too have spiked recently and demand is gradually improving. Gadani Recyclers have missed out on several lucrative, higher LDT (even geographically positioned) units of late.