According to Mining News Pro -The Gadani ship-breaking yard in Pakistan is one of the most massive ship-breaking yards in the world. Currently, Gadani yard has the facility of breaking over a hundred ships yearly, including supertankers and large cargo ships.

According to sources, ship breaking activities have still not fully resumed after the Eid holidays. Most of the factories, especially in Punjab, are still closed and plan on opening after Muharram. A small percentage of workers in Gadani are still on holiday, so business has not taken off entirely.

However, the market has improved in the recent weeks. After the ban on oil tankers was lifted earlier this year in April, Gadani saw twenty-two tankers in the first two months alone. Even though Gadani has not seen many oil vessels in the past weeks due to the weak demand, participants are hopeful that the Pakistan ship breaking market will continue to improve in the light of the ban lift and will help bring in substantial revenues in the shape of annual taxes.

Ship breaking market at Gadani port sees a rise in prices - According to sources, prices for containers stand at USD 450-460/MT, having risen from USD 435/MT last week. Similarly, prices for tankers have increased to USD 440-445/MT, with the VLCC tanker faring at USD 440/MT, from USD 425/MT last week. The rates for general bulk cargoes have been gauged at USD 420-425/MT, having risen from last week`s rate of USD 410/MT.

Domestic HMS prices in Pakistan have been assessed at PKR 53000/MT (USD 431/MT), while prices for re-rollable steel plates stand at PKR 75,000/MT (USD 609/MT).

Prices remain nearly unchanged in the local steel market - According to recent reports, rebar prices, ex-works, have been assessed at an average of PKR 96,000-100,00/MT (USD 780-812/MT), varying mainly by region. The steel market has not seen any significant rise or fall in prices this week.

Local scrap prices are stagnant at around PKR 48,000/MT (USD 390/MT), and ship cutting plates have been reported to be priced at approximately PKR 75,000-76,000/MT (USD 609-617/MT). The safety risks at Gadani had resulted in a substantial setback to the local ship-breaking industry.

With the rising number of protests advocating for better safety measures, the state is working to improve the quality of work, and hence the
productivity of workers. These measures are eventually expected to pay back in the form of higher production and more competitive pricing.

The country`s ship- breaking industry is working hard to restore its place in the global market and is positive that the local demand will rise in the upcoming days.