Pakistan buyers were simply interested bystanders as both the Bangladesh and Indian markets surged on further ahead by as much as USD 20 per LT LDT this week. Indeed, it was even difficult for Gadani buyers to compete on tankers (gas free for man entry only) with the premium due for hot works tank cleaning into India or Bangladesh surely now a consideration for ship owners with potential units.
It may only be a matter of time therefore before Pakistan buyers improve their numbers just to be able to compete on available tonnage into the sub continent. Lack of favored tonnage.
The currency remains stable as do steel prices, whilst a proliferation of (undesired) container units continue to hit the market something that may see Pakistani end buyers starved of tonnage, at least for the immediate future.
Source: steel guru. 25 January 2014