20 January 2014

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

As both India and Bangladeshi markets surged ahead this week, with each securing  market tonnage, Pakistani buyers were left in the shade once again, with numbers  trailing in the wake of their competitors.

It may be due to a lack of favored tonnage as containers remain the vessels of the moment (due to poor charter rates) and buyers tend to avoid them due to draft issues affecting beaching.

Local steel plate prices and the currency remain stable and capacity too remains good, but it may take some more aggression to compete if Pakistani buyers want to secure their share of the tonnage and divert from the hands of their sub-continent neighbors.

Source: steel guru. 15 January 2014

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