22 November 2012

GMS weekly report on Pakistan shipbreaking industry for WEEK 46 of 2012:

With the ongoing Indian slowdown, Pakistan quickly re adjusted their numbers with demand slowing since the number of recent high priced and high LDT tonnage concluded.

There is still demand for one or two of the larger units, particularly VLCCs and suezmax tankers but little in the way of material sales concluded to speak of.

As India opens up post Diwali in the coming week it may be that we see a return to form for Pakistan buyers or perhaps a period of digestion until the next round to buy comes about.

Source: Steel Guru. 20 November 2012

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