As the Embiricos VLCC DELOS arrived and beached (undoubtedly for a loss for the concerned cash buyer), Gadani end users started to turn their focus to other VL units in the market.
The TM HARMONY remains unsold (gas free for man entry only in Singapore), with the asking price remaining too rich (up until now). Most VLCCs (unless with significant bunkers or spares) today, on the resale front, are seeing USD 420/LT LDT at best.
There are also one or two private units in cash buyer hands, but with cleaning and delivery costs still to consider these may become Bangladesh vessels in time.
Otherwise, Pakistan was unable to capitalize on the Indian holidays this week as another dry week was realized on the sales board. With one or two sales still being discussed, that may however change in the coming weeks.
Source: steel guru. 13 November 2013