07 May 2012

GMS weekly report on Pakistan shipbreaking industry for WEEK 18 of 2012:

After the acquisition of the attractive Danish built aframax tanker BLUEFIN last week for USD 507 per LT LDT it was back to basics for Pakistani buyers with only one market sale to report this week.

USA based TBS committed their bulker M/V MOHAVE MAIDEN into Pakistan at a strong USD 471 per LT LDT. While the vessel was committed basis India and Bangladesh delivery in buyer's option, seeing how levels India for dry units sat marginally lower, it is expected that the vessel could find its way to the shores of Gadani.

On the local front, many yards were already at capacity which has resulted in the veritable cooling of demand as only the most favored, well positioned units being bid on aggressively.

With an upcoming budget to consider and just a few yards keen to stock before then, one or two more open buyers have been inquiring about units but not at levels much in excess of what India is offering seemingly always the yardstick for Pakistan activity these days.

Source: Steel Guru. 7 May 2012

No comments: