29 October 2013

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

Following the sale of the Embiricos controlled VLCC DELOS (42,318 LDT) last week for a firm USD 435/LT LDT, it was interesting to see another VLCC sold for similar levels as Meiji shipping of Japan sold their T. M. HARMONY (37,833 LDT) for a very decent USD 436/LT LDT.

The deal actually has an option for an 'as is' Sakai, Japan delivery with about 1,100 T bunkers ROB (just sufficient for the voyage across) at USD 423/LT LDT. Should the deal be declared 'as is', in Seller's option, the concerned cash buyer may decide to assess the gas free status (vessel currently only gas free for man entry clean) before deciding whether to clean and take to Bangladesh in a gas free for hot works condition.

Petrobras of Brazil continued their clearout of older tonnage with the sale of the MR tanker RODEIO (9,261 LDT) for USD 2.7 million 'as is where is' in Rio. Three parties had supposedly accepted the counter before the deal was awarded to the successful bidder.

Source: steel guru. 29 October 2013

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