India's Scrapped Ship Import Volume Increases 33% in July
Alang - Gujarat, has registered sharp growth in imports of scrapped ships in Jul'19 and the volume reached 7 months high since Dec'18, as per custom data maintained by SteelMint.
As per data, scrapped ships import in India was recorded at 195,297 LDT in Jul’19, which is highest since Dec'18. Also the Jul'19 imports grew by 33.2% M-o-M as against 146,565 LDT in Jun’19.
Inline, on yearly comparison, the ship breaking import volumes have sharply increased by 81.2% in Jul'19 as against 107,765 LDT in Jul'18.
The total number of demolished ships in Alang was marked at 17 number in Jul'19, however the number decreased by 4 on M-o-M basis.
Coming to the pricing part, the latest offers declined by USD 20/MT W-o-W due to cautious buying by Indian indenters as Rupee dropped by 1-2% in recent and currently trading at INR 70.73 against US dollar. The fresh offers to imports in India stood at USD 360/LT for Tankers, USD 370/LT for Containers & USD 350/LT for Dry bulk.
In Jul’19, the total quantity beached in ASIA (Alang - India, Gadani - Pakistan & Chittagong port in Bangladesh) stood at 265,258 LDT, fell by 24.9% M-o-M as against 353,243 LDT in Jun’19.
In context to Jan-Jun'19 period, Bangladesh remains in the topped buyers list of scrapped ships. However in July'19, the nation's import declined by 72.4% M-o-M with 53,732 LDT with total of 9 ships, as against 194,382 LDT in Jun’19. Also presently the Bangladeshi buyers are active for scrapped ships over upcoming Eid holidays which hampered cutting works in local yards over constant monsoon rain. Prices fell by USD 20/MT this week & stood at USD 390/LT for Containers and USD 380/LT for Tanker.
Inline, Pakistan stood as 3rd in the ship recycling as it imported 16,229 LDT with 4 number of ships at Gadani port, the data maintained by SteelMint Stats. The imported prices to Pakistan for containers reached at USD 380/LT, Dry Bulk at USD 360/LT & Tankers at USD 370/LT.
source: SteelMint
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