The Pakistani market roared back into the picture this week
by capturing THE two market sales of the week at impressive numbers. A large
part of this has to go down to cash buyer speculation, but there is a feeling
that prices in Gadani are set to potentially pick up, in conjunction with the
bullishness displayed in both India and Bangladesh presently.
As another VLCC, gas free for man entry only, was committed
to one eager cash buyer (at previously unheard of levels), the interest of end
buyers, competing cash buyers and curious owners was piqued accordingly. The
Navios controlled SHINYO NAVIGATOR (42,448 LDT) was sold for a hefty USD 441/LT
LDT for a Gadani delivery (with Sellers having the option to declare a USD
434/LT LDT price 'as is' Fujairah with only minimal bunkers).
The other sale concerned the capesize bulker RAM PRASAD
(19,492 LDT), with the Danish build, full spares and 350 T bunkers all
contributing to the extremely firm price of USD 440/LT LDT on show.
Source: steel guru. 26 November 2013
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