On Hold For Holidays:
A number of recent sales at relatively firm levels
have the caught the eye in recent weeks from Gadani buyers.
The STX sister ships OCEAN HOST and OCEAN FRIEND
were sold into the local market last week for USD 497.50 per LT LDT with
guaranteed 600 T IFO at time of delivery between the two.
The onset of Eid however, may mean a relative
slowdown in activity no sales for the week indicated that end buyers are indeed
focused on the religious festivities rather titan the negotiation of new
vessels.
Notwithstanding, for the time being, Pakistani
buyers remain on a level pegging with their Indian counterparts with a growing
demand becoming apparent for the right vessels. It will be interesting to see
how the market reacts post Eid and whether they finally begin to set the pace
on the buying front.
NO Market Sales Reported.
Source: (Sourced from GMS Weekly). 9 November 2011
http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_44/234669.html
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