WEEKLY

hekllenic

SHIP
RECYCLING
REPORT
10th September to 17th September 2021

Highlights of the Week

Iron ore prices continue their free fall and are being a sentiment dampener
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for the subcontinent recycling market, making the end buyers reluctant to
place high offers due to uncertainty of price trajectory and demand for
steel. Among the three major players of subcontinent, Pakistan is leading
the price board followed closely by India and Bangladesh.

The container shipping market is experiencing one of its best years as a

perfect storm of COVID-driven purchasing demand, port congestion and
typhoons have boosted freight rates but many industry participants are
now of the opinion that the supply chain disruptions which caused these
record-breaking prices may ease soon and the freight rates will start to see
some corrections shortly.

Oil prices steadily climbed this week as US crude oil, gasoline and distillate
stocks fell after Hurricane Ida shut numerous refineries and offshore drilling
production. The impact of Hurricane Ida along with an increase in global oil
demand due to removal of travel restrictions by many major countries have
given the required boost to the oil prices.

Fresh outbreak of COVID-19 cases in many regions of China is leading to a

scenario of near suspension of operations for many steel plants as the
deliveries are getting highly affected due to increased mobility restrictions.
 INDIA
``---------------------------

Stable Demand Outlook

The demand outlook from India is stable and end buyers are making
active inquiries for available units in the recycling market. The prices have
witnessed corrections in tune with the slight downward trend prevailing in
all the subcontinent markets.

Domestic steel demand is currently tepid while export demand from key
export market of South East Asia is also sluggish due to lockdown
restrictions in those countries. Additionally, the container shortages and
high freight costs are causing a dent in export demand of semi-
finish steel.

Price for Recycling Ships in India

600
590

570
560 560
550

Container Tanker Bulker

Previous Week This week

Price of HMS 1&2 (80:20) and Shredded

525 520

480 480

HMS 80:20 Shredded

Previous Week This Week

Beaching Dates:
18th September to 26th September 2021
4th October to 12th October 2021
19th October to 25th October 2021
 BANGLADESH
Weak risk appetite
The end buyers of Bangladesh are still averse to taking risk in the
prevailing uncertain phase and are only showing interest for mid-sized
tonnage. The overall market sentiment is weak with very few players
actively making inquiries.

Persistent weakness in downstream industrial and end-user demand has

kept steel demand sluggish in the domestic market, thus keeping the
prices under pressure.

There is slight fall of about USD 6/MT in prices of Re-bar as major mills do
not expect marginal improvement in demand anytime soon.

Price for Recycling Ships in Bangladesh

595 595

580 580

570 570

Container Tanker Bulker

Previous Week This week

Price of HMS 1&2 (80:20) and Shredded

540 540

515
510

HMS 80:20 Shredded

Previous Week This Week

Beaching Dates:
20th September to 23rd September 2021
5th October to 8th October 2021
19th October to 22nd October 2021
 PAKISTAN
Leading the Price Board
The recyclers are showing healthy buying interest as the ship plate prices
have seen improvement week-on-week. In terms of prices being offered,
the end buyers of Pakistan are leading the charts.

Imported scrap prices have softened by USD5/MT as market participants

are not placing active orders currently in expectation of a fall in scrap
prices globally.

The US Dollar reached its highest level in history against Pakistani Rupee
this week. The PKR has been on a downward trajectory since May 2021,
with rising import bill and a widening current account deficit putting
pressure on the rupee. It is currently trading at PKR 168.03/USD.

Price for Recycling Ships in Pakistan

600 600

590 590

580 580

Container Tanker Bulker

Previous Week This week

Price of HMS 1&2 (80:20) and Shredded

530
525

515 515

HMS 80:20 Shredded

Previous Week This Week

Beaching Dates:
Throughout the month
 TURKEY
Import scrap prices strengthened
No vessel has arrived in Aliaga this week for recycling.

Imported scrap prices have rebounded this week and increased by

about USD 4/MT as buying interest picked up slightly leading to mills
actively placing orders for deep-sea scrap cargoes.

Turkish Lira tumbles again and lost its value against USD. It is currently
trading at TL 8.59/USD.

Turkey will be removed from England’s red list banning international

travel as the government relaxes international travel rules.

Price for Recycling Ships in Turkey

Previous Week This week

290
280 280
270 270
260

Container Tanker Bulker

Price of HMS 80:20 & Shredded

470
465

450
445

HMS 80:20 Shredded

Previous Week This Week

Beaching Dates:
Throughout the month
 LIST OF VESSELS SOLD THIS WEEK

Vessel Name Type of Vessel Year of Country LDT Term of Sale Location of Sale Price/LDT
Build of Build Delivery (USD)

New Harmony Tanker 1993 Singapore 2,944.00 As-Is Batam Undisclosed

Sea Glamour Tanker 2000 Korea 23,267.00 Delivered Chittagong Undisclosed

BUNKER PRICES AT PORT

Bunker Prices - MGO

675

657
648 649 647

627
615 614
604 606

587

572

Houston Rotterdam Gibraltar Malta Fujairah Singapore

MGO - Previous week MGO - This Week

 www.best-oasis.com
CONTACT US
[email protected]

GERMANY U.A.E.
Mr. Gerd Leopold Mr. Naren Sampath
President (Purchase) Ship Broker (Purchase)
Phone: +49 4171880204 Phone: +971 4575 4667
Mobile: +49 172 3701021 Mobile: +971 55 836 9147

Mr. Asif Ali

Ship Broker (Purchase)
Phone: +971 4575 4667
Mobile: +971 586450162

GREECE
Mr. Yiannis Kourkoulis CHINA
Vice President (Purchase)
Phone: +30 210 461 7999
Capt. Steven Xu
Ext: 241 Company
Mobile: +30 694 258 3977 Representative
Mobile: +86 136 6600 0719
Email: [email protected],
Ms. Irini Mylona [email protected]
Commercial Executive
Phone: +30 210 461 7999 JAPAN
Ext: 243
Mobile: +30 694 484 3136 Mr. T Ishii
Company
Representative
Phone: +81 354 522 405
Mobile: +81 901 536 1497
Email: [email protected]

Disclaimer:
While every care has been taken to ensure that the information in this publication is accurate, Best Oasis
Limited can accept no responsibility for any error or omissions or any consequences arising therefrom. Figures
are based on latest available information, which is subject to subsequent revisions and corrections. The views
expressed are those of Best Oasis Limited and do not necessarily reflect the views of any other associated
company. Reproducing any material from this report without permission from Best Oasis Limited is strictly
prohibited.