17 July 2012

GMS weekly report on Pakistan shipbreaking industry for WEEK 28 of 2012:

News of two VLCC sales emerged this week in the local market as Gadani buyers honed in on their favored vessels the larger wet units.

The previously Japanese owned APOLLO 16 (34,673 LDT) was reported sold for a price region USD 370 per LT LDT as is Labuan with the vessel most likely needing to be towed over to Pakistan as she is only clean gas free for man entry.

The TMT controlled L ELEPHANT (32,198) was the other VLCC to head to Pakistan shores for an impressive LTSD 415 per LT LDT. Following the stalled sales from TMT of the IRON MONGER 3 and IRON MONGER 8 last year for demolition the concerned buyers will be hoping this time that the deal actually goes through.

Source: steel guru. 17 July 2012

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