10 January 2012

GMS weekly report on PAKISTAN shipbreaking industry for week 01 of 2012:

There were a few signs that interest and levels were picking up this week in Pakistan as some previously unobtainable levels began to emanate once again from a few select end buyers.

It is clear that there are still one or two local buyers, who need to fill their yards with available units and may have been maintaining a low profile of late, hoping to take advantage of the continuing Indian currency crisis by picking up one or two cheaper vessels.

With Bangladesh expected to return to the fray, it may be that prices do not remain so low for long, which may be why a few more enquiries than usual have surfaced.

One smaller deal for the week concerned that of the ASEAN SEA 01 from Vietnamese owners (who widely circulated the unit trying to squeeze out the most they could from the market) at a firm USD 464/LT LDT taking into account the unit in question.

Market sales reported:

Vessel Name
Reported Price
ASEAN Sea 01

Source: Steel Guru (Sourced from GMS Weekly). 10 Jan 2012

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