India’s ship recyclers have moved to fill the gap left by problems in Pakistan and Bangladesh as prices rise.

The inability of end buyers to open letters of credit with state banks due to a foreign currency crisis means Alang breakers are in the driving seat.

The 1,725-teu feeder container vessel SSL Kochi (built 1998) was reported sold into India at $581 per ldt or $5m, with bunkers included.