22 August 2013

GMS weekly report on Pakistan ship breaking industry for WEEK 33 of 2013:

As both competing sub continent markets struggled to maintain any sort of form / consistency post Eid, so too did Pakistan struggle to muster any meaningful numbers / offers to induce owners to sell any units.

A far more specialized market anyway there was no redirecting India bound tonnage such as reefers, roros, containers, smaller general cargo units and the like. Always ones for larger dry bulk vessels and tankers over 10,000 LDT gas free for man entry, few of their favored units have yet to be proposed.

However, there is still a question mark over whether end buyers would present suitable offers even if the right vessels were put in front of them the Pakistan tendency has been to hang onto the coat tails of their Indian sub continent neighbors.

Source: steel guru. 20 August 2013

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