Indian ship recycling prices bounce back

2014-08-28

Ship recycling prices, which fell steeply in India two weeks ago, made a remarkable recovery last week as steel prices rebounded. The Indian rupee also inched up from INR61 to INR60 to the dollar. As a result, average prices rose by $5/lt ldt to $455/lt ldt for bulkers and $485/lt ldt for tankers.

The market in China weakened last week, with average prices falling by $10/lt ldt to $290/lt ldt for bulkers and $305/lt ldt for tankers.

With October holidays (National Day) upcoming in just over one month, very little will be disrupted in the Chinese ship recycling markets as activity on international tonnage remains at a minimum.

Source from : CNSS

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