18 December 2013

GMS weekly report on Bangladesh ship breaking industry for WEEK 50 of 2013:

The political situation worsened in Bangladesh this week, with the much-publicized hanging of the Islamic opposition party leader. A number of people have already died in the fierce clashes between both sides that has seen the country ground to a virtual standstill amidst continued strikes and blockades.

Indeed, so turbulent is the domestic situation that the scheduled elections of January 5th have been called into question and may even have to be postponed as a result.

Notwithstanding, certain end buyers seem determined to take advantage and remained of the belief that as long as things remain volatile in the country, the price of commodities such as steel can only be set to improve. For the right units therefore (larger LDT containers, bulkers and tankers), buyers are emerging at ever more bullish numbers as demand and capacity remains good.

Source: steel guru. 17 December 2013

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