The Bangladeshi market has remained largely an interested observer for much of this week as favored larger containers and capesize bulkers bypassed the market to proceed towards Indian and Pakistani shores due to the lower overall levels on show in Chittagong.
Lagging by as much as USD 10 to USD 15 per LT LDT from their competitors, Bangladeshi buyers are unlikely to get their hands on much of the market tonnage for the moment.
A number of vessels have already delivered to end buyers during the first two months of the year and it is the number of these deliveries that has dampened demand and pushed prices lower going into March.
Source: steel guru. 4 March 2014http://www.steelguru.com/international_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_09/333933.html