Recycling Note - Year to date

Published 6. June 2022 10:55 AM

An incredible container market has broken many earning records but left recycling yards empty, with tankers left as the only hope to fill the gap

Recycling per segment: 

With an incredible container market that has broken many earning records, it is clear that Owners have no wish of recycling their vessels, leaving all recycling yards empty of container vessels YTD.

Leading the charts are tankers which undoubtedly have had the worst year comparing the three main segments (container, tankers and dry bulk), but they are now starting to make up for it. It was clear that tankers were under pressure earlier this year, when they almost single-handedly took up the spaces at the recycling yards, but this was not enough as most yards were without work, which alongside soaring steel prices, made recycling prices take off. 

Confirmed recycling transactions (Year to date).
Tankers: 50
Container: 0
Dry Bulk: 9
LPG: 2
LNG: 1
Others: 18


Price developments (average Container, Tankers, Dry Bulk):
When it comes to pricing, the recycling market has been one to watch closely this year, as prices have fluctuated almost 20% in both directions over the last six months. On average, including containers, tankers, and bulkers, prices in Bangladesh and Pakistan were stable at around $590/LDT, India at $545/LDT, and Turkey at around $330/LDT beginning of the year. As steel prices kept soaring, recycling prices climbed to over $700/LDT in Bangladesh and Pakistan for a brief prior in March, and prices managed to stay around high-$600/LDT for almost two months until the market started to retreat and follow a steady decline throughout May and till today.

1st of January 2022
Turkey: $330/LDT
India: $545/LDT
Bangladesh: $590/LDT
Pakistan: $585/LDT

31st of March 2022
Turkey: $460/LDT
India: $650/LDT
Bangladesh: $680/LDT
Pakistan: $680/LDT

5th of June 2022
Turkey: $330/LDT
India: $595/LDT
Bangladesh: $615/LDT
Pakistan: $590/LDT


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