Another relatively quiet week in terms of overall business concluded with Monsoon season underway, limited appetite from Bangladesh and the start of the summer holiday season in Europe. That said, some vessels are under offer and the Evergreen units (Ever Decent, Uni Arise and Ever Deluxe) will be sold next week basis HKC standards.
While Bangladeshian Breakers are still digesting the large number of massive VLOC`s that they purchased in June, the number of deals into the country has been very limited over the past 2 weeks. This is also a result of the aggressive numbers offered by Pakistani Breakers who are able to pay ‘top Dollar’ after the national government’s budget was presented, with policies working in Breakers’ favour.
Indian Breakers are finding it equally challenging to compete with Pakistani prices on non-HKC tonnage. The price for melting scrap in India went up by $10 to $293 per ton and the steel plate price slightly dropped to $362 per ton. The short-term outlook remains positive in the sub-continent markets.
Prices in Turkey were solid this week given the large amount of tonnage landing on the shores of Aliaga for breaking. Another relatively modern Cruise ship has been landed and a huge Norwegian flagged Shuttle Tanker was sold into the increasingly crowded recycling destination that is Turkey.
