10 November 2011

GMS weekly report on BANGLADESH shipbreaking industry for WEEK 44 of 2011:

Hearings & Headaches:

The Bangladesh court will once again open on November 13th (post-Eid holidays) when the case to reopen the market, is expected to be heard the same day. All going well, that could mean the market would be back online in time for the last beaching tide of November 25-27th.

However, if history has been any sort of a teacher for 2011, we can be confident that the situation is rarely that straightforward in Bangladesh and it may realistically take several weeks more for the investigation into the recent casualties to be completed, and for the judge to sit down, review and finally sign the extension.

The most realistic scenario therefore looks like anticipated beaching activities to resume for the mid December tide 13-16th.

Being out of commission, there have been no market sales to report for the market giants.

NO Market Sales Reported.

Source: (Sourced from GMS Weekly). 9 November 2011

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