28 April 2013

GMS weekly report on Indian ship breaking industry for WEEK 16 of 2013:

The spring time spike that had seen a number of vessels (particularly larger containers) concluded at some extraordinary levels, continued for yet another week as Indian buyers began to enjoy their moment in the sun.

The currency and steel plate prices appear, for once, to have aligned something that has pushed on sentiment and interest from local buyers, to acquire at unprecedented levels so far this year. For that reason, plenty of enquiries are being made to fill plots amidst a growing demand and strengthening of local prices.

A mixture of vessels were concluded for the week with perhaps the most e}^e catching seeing the tanker PAPUDO (15,969 LDT) concluded for USD 341/LT LDT 'as is' Chile with extra payment for bunkers. Once all deliver}' costs are considered, this should make it a massive price of about USD 460/LT LDT, with local deliver}' being about two months away.

The full spares bulker, SAPPHIRE II (6,59S LDT), likewise received a massive offer of USD 440/LT LDT whilst the 7,390 LDT container FRANCISA SCHULTE achieved a very firm USD 445/LT LDT 'as is' Salalah.

The smaller tween SAINT DEMETRIOS (4,306 LDT) rounded off the week's sales at an impressive LTSD 435/LT LDT, with a delivery to the newly opened Calcutta market on the East Coast of India.

Source: Steel Guru. 24 April 2013

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