24 January 2012

GMS weekly report on PAKISTAN shipbreaking industry for WEEK 03 of 2012:

Pakistan continued their resurgence of recent weeks by picking up two more suezmax tankers owned by BLT of Indonesia, at an impressive USD 510 per LT LDT. Gadani buyers may have just had the edge on their Indian sub continent counterparts due to their gas tree tor man entry requirement as opposed to hot works in India and Bangladesh.

The TRIDONAWATI and TRIRASA followed the sales of the BARUNAWATI and ANJANI, both sold to Pakistan late last year from the same owners.

Pricewise, Pakistan remains hot on the heels of India and will look to get right back in the thick of action in the coming weeks, as the uncertainty from the Bangladeshi market continues to persist and China shuts down for the holidays.

Source: Steel Guru (Sourced from GMS Weekly). 24 January 2011

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