Week Ending: 30 September 2011 (Week 39, Report No: 39/11)
In the demolition market, the momentum remains positive towards more scrapping activity till the end of the year with scrap prices being still at firm levels, whereas some signs of downward revision have been witnessed during the last days.
In the Indian subcontinent region, the price gap between
has now narrowed and Gadani scrap buyers seem to be more aggressive to pick up
new scrapping tonnage. India
, even though a dropdown has
been noticed this week in the scrap prices offered for the dry cargo, down by
$15/ldt, there are some owners that managed to conclude deals at levels xs
The week ended with 18 vessels reported to have been headed to the scrap yards of total deadweight 1,077,730 tons.
In terms of the reported number of transactions, the demolition activity is down by just 5% from last week’s levels, while there has been a 35.8% decrease in terms of the total deadweight sent for scrap.
At a similar week in 2010, demolition activity was standing at 72.2% lower levels than current week levels, in terms of the reported number of transactions, when 5 vessels had been reported for scrap of total deadweight 115,620 tons with 2 tanker units and 1 bulk carrier heading to the scrap yards.
and Pakistan were offering
$410 -$435/ldt for dry/general cargo and $440-$465/ldt for wet cargo, while
market was inactive. Bangladesh
Source: Hellenic Shipping News (Sourced from GDSA
www.goldendestiny.gr). 30 September 2011