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GMS Market Commentary on Shipbreaking in India in Week 27 - SODDEN!

Steel News - Published on Wed, 10 Jul 2019

Image Source: Leemans Maritime Consultancy
Whilst constant monsoon rains have battered Mumbai, reportedly leading to flooding and the closure of many banks and businesses, the ship recycling market in Alang too has remained in a sodden state this week. Over the last few weeks, local steel plate prices have collapsed by as much as USD 25/LDT (USD 12/Ton this week alone), leading to very few serious offers forthcoming, despite the number of (particularly HKC green) candidates already in Cash Buyer hands that are available for immediate purchase by Alang Buyers.

Whilst many HKC yards have started to fill up with an interesting array of units (VLCCs, FPSOs, drill ships, pipe layers, chip carriers, reefers etc.) at decent numbers, it may not be long before prices fall out of reach of an emerging Bangladesh once again, so the Indian summer (or at least June) appears to be over for now.

Source :

Posted By : Ratan Singh on Wed, 10 Jul 2019
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