04 October 2011

GMS weekly report on PAKISTAN shipbreaking industry for WEEK 39 for 2011:

  • Back in the running
  • As is tanker for Pak
Opportunity in Crisis:

Perhaps, sensing an opportunity in the crisis that seemed to beset the industry in the wake of last week's reversals, Pakistan seemed to be firmly back in the running tor market units now that prices with their Indian competitors seem to have leveled out a touch.

Indeed, Gadani buyers even hold the edge over India on tankers with gas free tor man entry requirements coming firmly into the picture as opposed to the hot works certificate needed for India.

As such, it was no surprise to see one SCI vessel the JAG PARI (8,774 LDT) emerge as a prime candidate for hungry Pakistan buyers with the deal concluded at USD 530 per LT LDT 'as is' Colombo with some 300 T IFO and 50 T MDO ROB. Additionally another 2 private tankers were concluded this week with the Pakistan potentially being the final destination for these units.

Source: Steel Guru (Sourced from GMS Weekly). 04 October 2011

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