13 March 2012

GMS report on PAKISTAN shipbreaking industry for WEEK 10 of 2012:

Pakistan bounced back in terms of deals concluded this week having seen most of the market tonnage headed to their Indian counterparts in the last few weeks.

The Danish built Aframax tanker SMOOTH HOUND sister to the recently sold SKIPJACK also to Pakistan fetched a huge price of USD 505 per LT LDT. The country of build a favorable size would have been responsible for the higher price on show.

FRONTLINE continued their clear out of older tonnage with the sale of the FRONT ALFA this week for USD 490 per LT LDT as is' Singapore. With only some 250 T to 300 T bunkers on board at time of delivery and the gas free for man entry status it is not vet clear where the relevant buyers plan on taking the vessel with the price on show reflecting a delivered and NOT an as is price.

Source: Steel Guru (Sourced from GMS Weekly). 13 March 2012

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