As the Indian resurgence pushed on, Pakistan struggled to keep up with the prices and activities of their neighbors. As a result no market sales were reported this week.
Meanwhile, a majority of the high profile purchases of the recent past have all but been delivered to Pakistani buyers. Levels will certainly have to improve in the coming week just to compete with India and many more vessels may shortly be heading the way of India and Pakistan with China out of the running and Bangladesh reaching capacity.
Source: Steel Guru. 22 August 2012http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_33_2012/279688.html