SteelOrbis has learned from market sources that ship
scrap prices in
Turkey's Aliaga region - the only region in
Turkey where ship scrapping is allowed - have softened by $5-10/mt since last week to $355-360/mt ex-yard. The price softening is partly attributed to certain difficulties regarding ship dismantling permissions and the fact that the ship breaking facilities at Aliaga are not working at full capacity at the moment. There are around 27 ships currently waiting just off Aliaga port for permission to be dismantled.
Meanwhile, competition among
Italy's ports has already started for the dismantling of the cruise ship Costa Concordia, which was this week pulled upright after a 19-hour salvage operation, while Aliaga is also a strong candidate for the breaking up of the ship as it is more advantageous in terms of dismantling costs and as the Aliaga facilities have already assumed the breaking of the famous Pacific Princess cruise ship. The Costal Concordia will likely be fully floated not earlier than June 2014.