21 March 2012

GMS weekly report on PAKISTAN shipbreaking industry for WEEK 11 of 2012:

Cherry picking the right units in Pakistan saw fewer market vessels concluded for the week despite the relative deluge that continued to hit the market.

Indeed, China and India have been the busier markets of late as Bangladesh continues to struggle with finance and Pakistan for capacity open buyers.

Those end buyers that are open to buy have the luxury of taking their pick from all those candidates available and are likely to go for those with the best specs and price. As such, cash buyers are approaching even' deal with caution with the onward sale and making sure an end buyer is in place which has become of increased priority in this market as opposed to the speculative buying of the past few years.

Source: Steel Guru (Sourced from GMS Weekly). 21 March 2012

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