16 May 2012

GMS weekly report on Bangladesh shipbreaking industry for WEEK 19 of 2012:

The Bangladeshi hot streak seemed to firmly come to an end this week with numbers heavily off and end buyers almost all fully booked by the end of the week. Several owners seem to have missed their chance with numbers dropping by the day and very little interest on the plethora of unsold market units on offer.

It could take months for yards to clear out and for an aggression to buy returns to the scene something that may conveniently coincide with the end of the monsoon season. Meanwhile, most local recyclers have managed to stock their yards before the budget of June 7.

Included in the weeks purchases are two cement carriers from KS Maritime of Singapore (the KS FRONTIER, S,126 LDT from earlier in the week went for USD 4S5/LT LDT and the KS CHALLENGER, 9,332 LDT went for USD 445/LT LDT come the end of the week, aptly illustrating the fall in prices seen).

Meanwhile, Chartworld continued their clear out of older tonnage with the sale of the capesize bulker AMBER STAR (21,050 LDT) for USD 4S6/LT LDT.

Source: Steel Guru (Sourced from GMS Weekly).  15 May 2012

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