A wholly underwhelming week in the Bangladeshi ship-recycling sector saw NO deals concluded and a whole raft of cash buyer tonnage remain unsold as demand and pricing on any types of vessel virtually dried up.
With most buyers only willing to talk at rock bottom prices, it has been a very troubling period indeed for most buyers in Bangladesh, with tonnage either being diverted elsewhere, or simply remaining unsold, or under renegotiation.
The truth is that it would be a major surprise for any new vessels to end up in Chittagong on current price levels being quoted from the market. As China continues to assert its hold on vessels positioned in the East, and both Pakistan and India showing the first signs of recovery, it mav be a quieter overall period of time in the Bangladesh market.
Source: Steel Guru. 11 September 2013