ShipRecycling:: Intermodal Weekly Demolition Report for WEEK-44 of 2011:

12 November 2011

Week 44: Tuesday 8^th November 2011

Broker’s Insight:

Demolition (Wet: Stable - / Dry: Stable -)

With Pakistan now closed due to holidays, the Bangladesh closure still effective and the Chinese breakers offering at considerably lower levels, it was up to demand from Indian breakers tokeep demand alive.
There was minimal activity reported though price levels seemed to have stabilized for the time being.
The number of demo candidates also looks to have slowed down compared to that was seen over the past month.
All eyes are now on steel prices, which have managed to hold fairly stable these past few days, boosting confidence that we may see levels improve once more, at least before the end of the year.
Prices were on par with one week prior, with wet tonnages holding at around 390-510$/ldt and dry units remaining at about 380-480$/ldt.
Most notable this weekwas the price paid by Indian breakers for the container vessel ‘Kota Abadi’ (21,888dwt-7,497ldt-blt 84) which reportedly went for a price of about $ 470/Ldt basis ‘as is’ Singapore.