Gadani buyers could only look on enviously to the Indian and Bangladeshi markets as they missed out on the majority of the market vessels vet again.
There are several Pakistan buyers open to take tonnage again but are not perhaps ready to compete on the levels currently on offer in India. The local fundamentals remain strong and we may see some further market moves in the coming weeks as Gadani buyers look to secure their share of the market post Eid holidays.
Source: Steel Guru. 28 August 2012http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_34_2012/280600.html