06 July 2013

GMS weekly report on Bangladesh ship breaking industry for WEEK 27 of 2013:

A relatively static Bangladeshi market has not been lulled into action by a positive Pakistan budget (coupled with a fairly unspectacular budget of their own).

Indeed, Chittagong buyers seem more concerned with the woes of the Indian market rather than concentrating on their own buying. Additionally, the political upheaval of the past few months coupled with the ongoing monsoon season has seen a softening of demand, levels, and an overall lack of focus on the ship-recycling sector in the country.

One potential sale for the Bangladesh market has been recorded however as the handysize bulker SUN NEW (7,532 LDT), which was sold by Korean owners on 'as is where is' basis at Incheon, Korea with only 150 T bunkers remaining on board. It may of course be that the vessel ends up elsewhere, but the logical call at this stage would be Bangladesh owing to proximity (and lack of bunkers) as opposed to either India or Pakistan.

Source: steel guru. 3 July 2013

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