28 January 2014

GMS weekly report on Bangladesh ship breaking industry for WEEK 04 of 2014:

A number of sales this week at fantastic numbers glossed over what was a declining market this week in Bangladesh. The price of local steel plate declined by almost USD 10 per LT LDT as end buyers began to nervously withdraw offers.

All of this makes the sales of the INFINITE PROSPERITY (13,617 LDT) at USD 472 per LT LDT and the PCTC SINGA ACE (12,226 LDT) at USD 445 per LT LDT ‘as is’ Singapore (with min bunkers) all the more difficult to justify.

The selling points on the INFINTITE PROSPERITY in particular concerned the 250 T bunkers, full spares and added 450 T of steel from a self-discharging system installed by owners in China in 2010. PCC and PCTC units on the other hand tend to be favored in Bangladesh due to the propensity of certain end buyers to re use the decent quality steel to build new coastal trading vessels.

Source: steel guru. 28 January 2014

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