Another week stuck in the shadows of both Bangladeshi and Indian recyclers and to a certain extent China who at least secured some units left Pakistani buyers once again frustrated with a lack of market sales to show.
As really the only viable location in the Indian sub cont now for tankers without the gas free for hot works cert which can cost up to USD 50,000 to acquire, there has been remarkably little activity of note recently from Sellers keen only to deliver with gas free for man entry certification.
If the ongoing stalemate continues in Bangladesh, expect activity on the sales front to pick up in Pakistan once again as demand and prices remain firm around the high 400s for tankers and mid to high 400s on decent sized dry vessels.
(Sourced from GMS Weekly.com)
Source: Steel Guru. 22 March 2011