Week Ending: 23rd September 2011
(Week 38, Report No: 38/11)
In the demolition market, the
scrapping momentum insists at solid levels driven this week firm activity in
the tanker and liner segment and fairly active levels for bulk carrier vessels. 4 VLCC units were finally headed to the scrap yards and there are hopes for
firmer volume of transactions in the crude carriers segment as a remedy to
oversupply growth. India is
still the dominant force of the Indian subcontinent region with uncertainty
surrounded the Bangladesh
Scrap prices keep their high
momentum with India paying
$515/ldt for dry/general cargo and $540/ldt for wet cargo, while Pakistan China expects more units to be sent for disposal
in their yards on the occasion Bangladesh
The week ended with 19 vessels
reported to have been headed to the scrap yards of total deadweight
1,679,039 tons. In terms of the reported number of transactions, the demolition
activity is down by 17.3% from last week’s levels, while there has been a 58% increase
in terms of the total deadweight sent for scrap due to the strong number of
VLCC disposals.
In terms of scrap rates, the highest scrap rate has been
achieved this week in the tanker segment for an aframax unit of 98,624 dwt
vessel built 1990 with a lightweight of region 16,125tons that has been sent
for beaching in Pakistan
In terms of volume of transactions, tankers won the leading
position that bulk carriers have kept for many weeks now by holding 42.1% of
this week’s scrapping activity. India
At a similar week in 2010,
demolition activity was standing at 63% lower levels, in terms of the reported
number of transactions, when 7 vessels had been reported for scrap of total
deadweight 218,513 tons with tankers holding 57% of the total volume of
activity.
Source: Hellenic Shipping News (Sourced from GDSA www.goldendestiny.gr). 23 September
2011
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