20 January 2014

GMS weekly report on Bangladesh ship breaking industry for WEEK 02 of 2014:

As the political situation starts to settle down in the country, local buyers returned to the bidding tables, keen to stock their yards and acquire units once again.

 The ruling party has kept their place in government, and although there is still an  element connected to the opposition party that is seeking to destabilize events (just as  they had in the build up to the election by torching polling stations and taking to the streets), a certain order has been restored to Bangladesh.

 It was in this environment that the Bangladeshi owned handy bulker GREEN OCEAN 1 (8,168 LDT) was committed for a firm USD 430/LT LDT to one keen buyer.

 The demand emanating from local buyers seems to suggest that focus has switched to smaller units for the time, being rather than the favored larger LDT VLCCs and capsize bulkers (even though there is a dearth of such units currently available).

Source: steel guru. 15 January 2014

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