04 February 2014

GMS weekly report on Pakistan ship breaking industry for WEEK 05 of 2014:

Another week of largely unfruitful business saw Pakistan buyers finish January almost completely empty handed. Apart from one or two tankers (gas freed for man entry only), it has proved a lonely furrow of late in Gadani.
Indeed, many owners are reconsidering the cost of gas freeing for hot works themselves, owing to the premiums of USD 20 per LT LDT and upwards for the right units, in both Bangladesh and India.
As the supply remains relatively unsteady, Pakistan buyers will have to up their game again just to compete as capacity into all locations remains excellent and availability of juicy tonnage dwindles.
Source: steel guru. 4 February 2014

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