There was a controlled caution this week in the Indian market as the news started to sink in that the Supreme Court hearing scheduled now tor the 19th July may bring with it, a temporary closure of the market.
As a result, very few sales have been confirmed over the course of the week and certainly not exclusively for any WC India deliveries with an open Pakistan option, always being an alternative should India actually shut down for any period of time.
For those prompt deliveries with onward sales in place though, it seems that clearances are being given and vessels are still being granted permission to beach locally.
The outcome of the hearing on 19 July is far from certain, with many viewing any shutdown of the market as simply not feasible. It is doubtful though whether these are scare tactics or - like with Bangladesh for the most part of last year - any official shutdown of the market could be enforced.
The early signs of the directive are quite clear though - that ship-owners should be responsible themselves for the cleaning and disposal of hazardous / toxic wastes on board BEFORE arrival to West Coast Indian shores.
Source: steel guru. 17 July 2012
http://www.steelguru.com/indian_news/GMS_weekly_report_on_Indian_ship_breaking_industry_for_WEEK_28_2012/273796.html
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