14 November 2013

GMS weekly report on Bangladesh ship breaking industry for WEEK 44 of 2013:

With a far more discernible demand and greater aggression to buy in Bangladesh this week, it was no surprise to see the only market deal of the week concluded to Chittagong buyers.

The RoRo / container vessel EUROCARGO EUROPA (12,449 LDT> fetched some price as well, committed for USD 455/LT LDT (less cash buyer commissions). The 2 main engines, 2 bronze working propeller, 1 bronze spare propeller coupled with powerful generators and 2 bow thrusters helped pushed the price up significantly (putting her on par with favoured PCC units).

Bangladesh has once again been gripped by severe strikes this week as the opposition party looks to bring the country to a virtual halt. This has limited activity somewhat on the ground as banks have left work much earlier than usual meaning the opening and releasing of LCs on a timely basis has been strained.

Source: steel guru. 13 November 2013

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