After the excitement from earlier weeks, seeing several capesize bulkers and a VLCC concluded locally, the Bangladeshi market witnessed favored tonnage bypass the shores of Chittagong on towards Pakistan, resulting in an overall quieter local week.
Concluded at USD 454.50/LT LDT, the Korean owned VLCC G. GLORY (39,205) was perhaps the most interesting sale last week (gas free for hot works), the price likely being attributable to a pre-budget (June 6th) delivery.
Presently, it does appear that no Chittagong buyers are willing to consider vessels for post budget deliveries, for fears that potential increases in duties / taxes on purchases could affect vessels arriving at later dates.
Meanwhile, strikes and banking issues (particularly for untried and tested new end buyers) persist in the country - sometimes slowing local deliveries to a crawl. Overall, Bangladesh is lagging a touch behind their Indian and (in particular) Pakistani (who bid on the same sort of tonnage) rivals meaning several vessels have been bypassing Chittagong shores of late.
Source: Steel Guru. 24 April 2013