29 October 2013

GMS weekly report on Bangladesh shipbreaking industry for WEEK 43 of 2013:

The first week back after Eid holidays saw very little changes to the status quo in Bangladesh, with prices stagnant even if demand appeared to be returning.

Cash buyers began negotiating many of their 'as is' vessels - yet prices remained some ways away from expectations. For that reason, there were very few market sales to speak of - particularly whilst competing sub- continent markets continue to perform relatively well.

Pakistan has been the market for most of the VLCCs sold recently - with the simple fact that it can take vessels gas free for man entry as opposed to hot works clean (and the significant costs associated with it).

Meanwhile, the continued political turmoil caused by the opposition partv strike has resulted in At least 5 deaths in the last few days, which is another unsavory distraction for those in Bangladesh and is one that has plagued the country for the most part of this year.

Source: steel guru. 29 October 2013

No comments: