13 September 2011

GMS weekly report on PAKISTAN shipbreaking industry for WEEK 36 0f 2011:

  • Lagging behind
Gulf Exists:

Pakistan numbers remained some ways apart from their Indian and Bangladeshi counterparts as another week of minimal activity on the buying front passed the local market by.

A gulf of some USD 15 per tonne to USD 20 per tonne still exists on both wet and dry units and even though tankers only require cleaning to gas free for man entry status in Gadani, it may be worth owners now performing the cleaning to hot works standards in order to get a substantial amount more in price.

With Ramadan now over and the Bangladeshi market set to close again mid October, Pakistan buyers may be expecting more tonnage to arrive on their plate in the near future but with numbers and sentiment currently as they are it is not worth taking anything for granted.

NO Market Sales Reported for Pakistan.

Source: GMS Weekly. 12 September 2011

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