14 May 2013

GMS weekly report on Bangladesh ship breaking industry for WEEK 19 of 2013:

The caution surrounding post-budget deliveries (and an anticipated hike in import duties/taxes) did not seem to concern many cash buyers as a slew of deals were concluded on an 'as is' basis with current Bangladeshi (pre-budget) levels in mind.

The Japanese owned capesize bulker RUBIN LAUREL (21,537 LDT) was concluded for a highly impressive USD 450/LT LDT 'as is' Hong Kong with approximately 2,000 T bunkers ROB upon delivery (about 25-30/LT LDT value). This follows the sale of the RUBIN CRANE from same owners on a similar basis with significant bunkers earlier this year.

STX of Korea sold their first vessel for scrap this year, with the smaller bulker PAN BRIGHT (5,140 LDT) fetching a more realistic USD 360/LT LDT 'as is' Incheon, Korea with about 250 T bunkers on board upon delivery.

The political situation continues to capture headlines in Bangladesh - with the death toll still mounting from the tragic Dhaka factory collapse and riots/protests and strikes gripping the country from the opposition party in action that has so far left scores dead.

Source: Steel Guru. 14 May 2013

No comments: