- Distinct disinterest
- No worth speculation
Bite the Bullet !!
Buyer sentiment this week showed few
signs of improving with a number of vessels at outer anchorage still unsold and
yet more high priced high profile deals arriving locally. Much to everyone's
surprise, there remained little no sign that end buyers would be willing to pay
anywhere near the prices that cash buyers would be demanding, even to breakeven
on their deals.
Tanker Pacific's M/T JAVA SEA (16,134
LDT) was finally sold for USD 545/LT LDT basis a guaranteed Bangladesh
delivery, gas free for hot works a sale into a market that has yet to
officially certify its extension past the October 12th deadline. Likewise the
tween NORMAX SPIRIT (6,090 LDT) was sold for a guaranteed Bangladesh
Meanwhile, a draft of the Rules and Regulations
of Shipbreaking in Bangladesh Ship Building
and Ship Recycling Board service under the Ministry of Industries that will be
responsible for monitoring the import of ships for recycling in Bangladesh
The draft covers the following for the
domestic recycling sector:
1. Provide for the standards, measures
and precautions to conduct the recycling process in a sate and environmentally
sate manner
2. Set out clear responsibilities for
Sellers, Cash Buyers, and respective Yards
3. Conduct the relevant inspections and
surveys
4. Highlight the methods for safe
disposal of hazardous waste
5. Set out a standard for the training,
safety and general welfare of the workers and recourse for them in case of any
accident or emergency and have examples of the plans that need to be submitted
by the yard
6. Create application forms for the
relevant parties
The SBSRB and the rules together are a
one stop and all encompassing guide to the entire ship recycling process in Bangladesh
Market sales reported:
|
Vessel
name
|
Type
|
LDT
|
Reported
price
|
|
|
Tanker
|
16,134
|
USD 545/LT LDT
|
|
NORMAN SPIRIT
|
Tween
|
6,090
|
LISD 515/LT LDT
|
Source: Steel Guru (Sourced from GMS Weekly) 11 October 2011
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