12 February 2013

GMS weekly report on Pakistan shipbreaking industry for WEEK 6 of 2013:

Despite the optimism of last week that saw several high priced, high LDT and high profile tankers tucked a wav into the Pakistan market the nervousness that engulfed India this week showed signed of filtering through to the shores of Gadani.

For that reason, lower number started emanating from local recyclers in the hope of picking up a bargain or two and there were fears throughout the market that just as India had fallen, so Pakistan could be set for falls as well.

Now may hence be the time, for Gadani buyers to snare a few units at decent prices as local currency and steel prices in Pakistan remain stable compared to India. It will just take some confidence and initiative from Gadani buyer to see that through.

Source: Steelguru. 12 February 2013

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