Due to the sharp increase in the price of steel plate in India, ship breakers are looking for more vessels to dismantle.The main rival in the shipbreaking business to India is Bangladesh, but the increase in the price of steel scrap only came about in early July, so India was already in the market for tankers and bulkers to dismantle. In Pakistan,ship breakers were hampered by poor returns,which left the field clear for India.
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