27 March 2012

GMS report on BANGLADESH shipbreaking industry for WEEK 12 of 2012:

Despite experiencing problems with deliveries, demand in the Bangladeshi market showed hints of surfacing this week. Nevertheless, the same issues with finance and delays in delivering vessels still exist, making any new deals, awkward and difficult as the ones of the recent past.

Even though there are one or two keen buyers expressing an interest in fresh tonnage, the few cash buyers that were able to sell into the local market managed to offload some of their 'as is' and delivered deals that had been waiting outside for some time now.

The fact remains that the current levels on offer are less than impressive and some ways behind what Pakistan - WC India are able to offer. On the other hand, the difference in levels between China and Bangladesh too, is even so slim, that it was not worthwhile for owners or cash buyers to consider bringing their vessels over from the Far East, to the sub-continent especially with Chinese demo prices picking up a touch for the week.

Source: Steel Guru. (Sourced from GMS Weekly). 27 March 2012

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