03 April 2012

GMS weekly report on PAKISTAN shipbreaking industry for WEEK 13 of 2012:

A number of units were this week committed to Gadani recvclers as tanker owners in particular looked to the Pakistan market to take their tankers gas free for man entry only.

Prices have been similar in recent weeks to the Indian market although if one end buyer sets his sights on a vessel, he is likely to go all out to secure the unit in question. This is something that occasionally prices the Pakistan market ahead of its competitors.

Laskarides completed their clearout of the early 90s Suezmax tankers they hold with the sale of the SEACREST (20,179 LDT) and sister SEAWAVE (20/179 LDT) for price of USD 475/LT LDT 'as is' Singapore with approx 400 T bunkers and Fujairah with approx 150 T bunkers both gas free for man entry only.

The gas free status suggests that they will most likely end up Pakistan candidates given the proximity of levels for all the Indian sub continent markets. This follows the sale of the GOLDWING and LOW RIDER (20,179) sold into Bangladesh earlier in the year from the same owners.

Source: Steel Guru. (Sourced from GMS Weekly). 3 April 2012

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