Pakistan was able to use the constant flow of tonnage into India, as a diversion to secure tonnage of their own.
Traditionally, less sensitive than their competitors to countries of build India can heavily discount amongst others Spanish, Chinese, East German and Bulgarian builds Gadani buyers picked up a few larger bulkers this week.
The Liliana Dimitrova (9,937 LDT) and Svilen Russev (9,989 LDT) from Navilbulgar saw a somewhat weaker USD 460 per LT LDT in Pakistan owing to the lower numbers on offer in India for Bulgarian countries of build.
The VLOC FAITH N (35,045 LDT) is being talked about in the Pakistan market despite the relevant cash buver having all Indian sub cont options open to satisfy the strong LJSD 478/LT LDT paid.
Source: (Sourced from GMS Weekly). 27 March 2012