08 March 2014

GMS weekly report on Pakistan ship breaking industry for WEEK 09 of 2014:

Pakistan became perhaps the market of the moment for all large tonnages (other than containers) as local demand finally began to translate to prices.

Along with the Polembros controlled NAXOS WARRIOR sold several weeks ago for USD 460 per LT LDT for delivery Gadani, the Ore Carrier WINNING PRIDE (23,293 LDT) was sold for USD 440 per LT LDT ‘as is’ Singapore with about 200 T bunkers.

Several of the big buyers remain keen to import tonnage again and there is demand for VLCCs, larger tankers and capesize bulkers. With Bangladesh so far unwilling to compete on larger tonnage at the moment, this may be the ideal time for Pakistan buyers to acquire desired units.

Source: steel guru. 4 March 2014

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