GMS weekly report on PAKISTAN shipbreaking industry for WEEK 40 of 2011:

• Securing units again
• How far will prices go?

Back in the Game:

After finally getting back onto some sort of level pegging in terms of prices, Pakistan has begun to secure market units again with the conclusion of 2 market deals at strong levels.

The Polembros controlled PARROS WARRIOR (16,347 LDT) was sold at USD 536 per LT LDT. Additionally, though not confirmed at this stage it is likely mat the M/T NOSTOS (13,477 LDT) was been concluded at USD 540 per LT LDT. While the PARROS WARRIOR was concluded basis Gas Free for Man Entry, what makes the NOSTOS an interesting sale is the no gas free obligation from the owner's perspective, a definitely speculative endeavor considering a delivered deal at these levels.

While the Indian market has not improved in prices and in light of Pakistan's historical performance it stands to be seen just how far levels from Gadani buyers will climb.

Source: Steel Guru (Sourced from GMS Weekly) 11 October 2011

http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_40/229190.html

http://download.hellenicshippingnews.com/pdf/October%2007,%202011.