20 December 2011

GMS weekly report on PAKISTAN shipbreaking industry for Week 50 of 2011:

Despite the lack of market sales, there was a discernable demand from Pakistani buyers with enquiries on all sorts of units forthcoming.

Indeed, a number of cash buyer purchases both as is and delivered were successfully concluded last week as Gadani buyers emerged as more than capable stand ins whilst India looks to overcome its currency crisis.

There are still certainly one or two buyers keen to fill their yards before the end of the year and the current pricing, with Bangladesh soon to be back online, represents a good opportunity to pick up some reasonably priced vessels

Source: Steel Guru (Sourced from GMS Weekly). 20 December 2011

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