WEEKLY SHIP RECYCLING REPORT
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WEEKLY
SHIP
hekllenic
RECYCLING
REPORT
7th May to 14th May 2021
Highlights of the Week
It has been an inactive week with Pakistan and Bangladesh markets remaining
closed till May 16 and India still reeling under the Covid chaos. In terms of
demolition prices, there has been a strong resistance from buyers to move up from
the ongoing price levels as they are unsure about the sustainability of the current
steel price momentum. Let’s wait and watch for the upcoming week which will give
a clearer picture as the markets reopen after Eid holidays.
A tropical cyclone has developed and is expected to intensify in the Arabian Sea in
coming two days. To be named Tauktae, it will have a close brush with India’s
western coast late Sunday night or early Monday and could eventually threaten
India’s Gujarat state and southeast Pakistan next week.
Many under-tow units coming to India and Pakistan will require assistance due to
the bad weather, increasing the cost substantially for the cash buyers. Remaining
vigilant is required and we hope all towages reach their destinations safely.
The catastrophic rise of COVID-19 cases in India has reignited the crew change
crisis which is adding a plethora of challenges for ship managers and disrupting the
schedules of several voyages.
The rising Oil prices saw a sharp U-turn on Thursday as the key fuel pipeline in the
United States resumed operations after being shut due to a cyber-attack and
coronavirus cases remain high in India, the world’s third-largest oil importer.
Eid Mubarak to all our friends celebrating today. May this day bring a lot of joy and
happiness in our lives!INDIA
Pandemic-hit market
The cutting activities at Ship Recycling yards remain suspended due to non-
availability of industrial oxygen and have led to piling-up of inventories. End
buyers are expecting to witness high level of activity in the market once the
oxygen supply resumes.
Government has proposed to reduce or withdraw the import duties on steel to
tame the steel prices and reduce the pressure on small and medium-sized
enterprises. While this move is good for steel-user industries, the steel
producers fear it would flood the market with cheap and substandard imported
steel. DAILY NEW COVID CASES REPORTED IN INDIA - 1 MONTH
4,50,000
DAILY NEW COVID CASES REPORTED IN INDIA - 1 MONTH
3,50,000
5,00,000 3,32,921
2,50,000 4,14,433
3,86,888
2,17,353
4,00,000 3,43,288
1,50,000 81,466 3,32,9211,31,968
3,00,000 2,17,353
50,000
2,00,000
-50,000
1,00,000
0
Price for Recycling Ships in India
495 495
470 470
460 460
Container Tanker Bulker
Previous Week This week
Price of HMS 1&2 (80:20) and Shredded
510
490
475
460
HMS 80:20 Shredded
Previous Week This Week
Beaching Dates:
23rd May to 31st May 2021
8th June to 16th June 2021BANGLADESH
Market remains inactive due to ongoing holidays
The end buyers have not shown much interest in finalizing deals this week due
to the ongoing holidays. Ship plate prices have maintained their rally, giving the
buyers enough support to offer attractive prices.
The government has decided in principle to extend the ongoing lockdown from
May 17 to curb the surge in Covid-19 cases feared after the Eid holidays,
especially after the detection of Indian variant virus cases in Bangladesh.
DAILY NEW COVID CASES REPORTED IN BANGLADESH - 1 MONTH
5,000
4,192 4,014
4,000
3,000 2,341
1,822
2,000 1,290
1,000
0
Price for Recycling Ships in Bangladesh
545 545
530 530
520 520
Container Tanker Bulker
Previous Week This week
Price of HMS 1&2 (80:20) and Shredded
510 515
495
485
HMS 80:20 Shredded
Previous Week This Week
Beaching Dates:
26th May to 29th May 2021
10th June to 13th June 2021PAKISTAN
Elevating steel demand drives demolition prices
The market remained in holiday mood this week due to Eid festivities and the
strict mobility restrictions in place. The end buyers from Pakistan have been
offering quite competitive prices and may secure good tonnage as the
markets reopen next week.
Alarm bells have started ringing in Pakistan as the hospitals are receiving
severely ill Covid patients requiring oxygen support more than before. Though
there has been a drop in the daily number of fresh cases, the severity of the
existing cases is a matter of concern for the authorities.
DAILY NEW COVID CASES REPORTED IN PAKISTAN - 1 MONTH
7,000
6,000 5,870 5,480
5,364
5,000 4,197
3,265
4,000
3,000
2,000
1,000
0
Price for Recycling Ships in Pakistan
540 540
530 530
520 520
Container Tanker Bulker
Previous Week This week
Price of HMS 1&2 (80:20) and Shredded
515
490 495
470
HMS 80:20 Shredded
Previous Week This Week
Beaching Dates:
Throughout the monthTURKEY
Stable market conditions
No new vessel has arrived in Aliaga this week.
Import scrap prices have increased by USD 20/MT whereas the domestic
scrap prices have increased by USD 10/MT since previous week.
Turkish stocks slid and the lira hit a six-month low against major currencies
as higher-than-expected US inflation data weighed on emerging markets. It is
currently trading at TL 8.50 per USD.
Seeing a sharp drop in the number of COVID-19 cases, the authorities have
decided to ease the curfew from next week.
DAILY NEW COVID CASES REPORTED IN TURKEY - 1 MONTH
70,000
61,400 54,791
60,000
50,000 37,674
40,000
22,388
30,000
11,534
20,000
10,000
0
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
520
510
490
480
HMS 80:20 Shredded
Previous Week This Week
Beaching Dates:
Throughout the monthLIST OF VESSELS SOLD THIS WEEK
• No Sale to be reported this week
BUNKER PRICES AT PORT
Bunker Prices - MGO
614
599
588 590
581 581 580
576
565
554
541
537
Houston Rotterdam Gibraltar Malta Fujairah Singapore
MGO - Previous week MGO - This Weekwww.best-oasis.com
CONTACT US
bol@bol.ae
GERMANY U.A.E.
Mr. Gerd Leopold Mr. Naren Sampath
President (Purchase) Ship Broker (Purchase)
Phone: +49 417 188 0204 Phone: +971 4575 4667
Mobile: +49 172 370 1021 Mobile: +971 55 836 9147
Skype: shiprecycling Skype: naren_sampath@outlook.com
GREECE CHINA
Mr. Yiannis Kourkoulis Capt. Steven Xu
Vice President (Purchase) Company
Phone: +30 210 461 7999 Representative
Ext: 241 Mobile: +86 136 6600 0719
Mobile: +30 694 258 3977 Email: capt.xu@139.com
Skype: giannisk3 china@bol.ae
Ms. Irini Mylona
JAPAN
Commercial Executive Mr. T Ishii
Phone: +30 210 461 7999 Company
Ext: 243 Representative
Mobile: +30 694 484 3136 Phone: +81 354 522 405
Skype: imylona Mobile: +81 901 536 1497
Email: ishii.i.i@ktd.biglobe.ne.jp
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
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