Week Ending: 23rd September 2011 (Week 38, Report No: 38/11)
In the demolition market, the scrapping momentum insists at solid levels driven this week firm activity in the tanker and liner segment and fairly active levels for bulk carrier vessels. 4 VLCC units were finally headed to the scrap yards and there are hopes for firmer volume of transactions in the crude carriers segment as a remedy to oversupply growth.
still the dominant force of the Indian subcontinent region with uncertainty
market for the granting of new extension. Bangladesh
Scrap prices keep their high momentum with
$515/ldt for dry/general cargo and $540/ldt for wet cargo, while
seems to have won some tanker scrapping activity this week. Pakistan China expects more units to be sent for disposal
in their yards on the occasion
will not be certified with one more extension on early October. Bangladesh
The week ended with 19 vessels reported to have been headed to the scrap yards of total deadweight 1,679,039 tons. In terms of the reported number of transactions, the demolition activity is down by 17.3% from last week’s levels, while there has been a 58% increase in terms of the total deadweight sent for scrap due to the strong number of VLCC disposals.
In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker segment for an aframax unit of 98,624 dwt vessel built 1990 with a lightweight of region 16,125tons that has been sent for beaching in
at $546/ldt. Pakistan
In terms of volume of transactions, tankers won the leading position that bulk carriers have kept for many weeks now by holding 42.1% of this week’s scrapping activity.
has won 36.8% of the scrapping business. India
At a similar week in 2010, demolition activity was standing at 63% lower levels, in terms of the reported number of transactions, when 7 vessels had been reported for scrap of total deadweight 218,513 tons with tankers holding 57% of the total volume of activity.
Source: Hellenic Shipping News (Sourced from GDSA www.goldendestiny.gr). 23 September 2011