South Asia: Ship breaking prices remain stable w-o-w

South Asia's imported ship-breaking prices continue to remain stable. Over the past few weeks, the market has remained stable while tonnage levels have remained exceptionally low, as per GMS report.

Opening new letters of credit (L/Cs) for imports in Bangladesh and Pakistan is still quite challenging, which is a pressing concern for both sellers and cash buyers. The HKC green recycling yards have been thriving, though, and a few deals were concluded last week for both India and Bangladesh.