11 November 2012

GMS weekly report on Bangladesh shipbreaking industry for WEEK 44 of 2012:

Still stuck in the mire and struggling to muster up any competitive levels, Bangladesh endured another frustrating week on the sidelines.

Otters on bulkers are still forthcoming some way below USD 400 per liter LDT with tankers some USD 25 per liter LDT ahead. At this rate, prices are more on par with the Chinese rather than their Indian/Pakistani neighbors!

Indeed, because China and Bangladesh are so comparable on levels, most owners wall choose to leave their units in the East rather than face the risk of bringing their vessels to Bangladesh where letters of credit and solvent/reliable buyers remain a cause for concern.

Source: Steel Guru. 06 November 2012

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