|India and Pakistan to adjust ship recycling rates|
|Tuesday, 15 September 2009 13:31|
US-based ship recycling news source, GMS Weekly, is predicting that ship recycling prices per long ton lightweight will decrease in India and Pakistan in the coming weeks.
“A couple of weeks ago, Chinese levels fell in excess of US$20/ton and with Bangladesh softening this week, it is only a matter of time before both India and Pakistan follow suit via price corrections of their own,” the weekly publication said in analysing the market conditions for the week ended September 11.
The publication rated Bangladesh the highest ranking country in ship demolition last week. Bangladesh fetched prices of US$310 per long ton lightweight for general cargo vessels and US$360 per long ton lightweight for tankers.
In second place was Pakistan’s prices of US$305 and US$325, and India with prices of US$300 and US$320.
The Chinese market wrapped up the report in final place with a steady market price of US$260 and US$270.
GMS reported that Pakistan experienced a quiet week on the purchasing front due to conflict in the north of Pakistan causing delays for traders and ship recyclers in their area of business.
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