GMS weekly report on Indian shipbreaking industry for WEEK 15 of 2011:

Indian ship recyclers continued to flaunt their purchasing prowess and their price superiority, as a healthy collection of sales continues to take place into the local market.

There appears to be nothing stopping the Indian buyers, as both prices and the number of purchases for the local market, continue to head north. Adding to the advantage of local players, is the drastic differential between levels from China and an unexpected drop in prices from Bangladesh, both of which have furthered the (price) advantage that Indian players have on the bidding tables.

Demand has for the most part, remained steady (and strong) and most vessels have been fetching the best that the market has to offer, from Alang Buyers.

Chemical tankers CARIBBEAN FIDELITY and CARIBBEAN' RENAISSANCE fetched a strong USD 555/LT NET LDT, thanks to stainless steel (reportedly 500 Tons) onboard both vessels. Bulkers ANGELIA and BIKIT TIMAH too fetched decent levels for their owners.

While India continues to revel in its high-priced glory (for now), it is only a matter of time until we see Bangladesh step up and become a challenge for all competing nations.

Source: SteelGuru. (Sourced from GMS Weekly.com). Tuesday, 19 April 2011

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