Pakistan buyers looked on frustratedly for another week as Indian and Bangladeshi offers simply blew them out of the water on any competitive tonnage working (either cash buyer or private market tonnage).
The steady supply of panamax containers is not piquing the interest of Gadani buyers whose reluctance to buy such units rests on draft issues and the difficulties in beaching as a result.
However, as long as prices remain USD 15 per LT to USD 20/LT LDT behind their chief competitors there is little end buyers can do to get their hands on vessels, gas free for man entry tankers or not, amidst a growing demand for new vessels locally.
Source: steel guru. 11 February 2014