27 March 2014

GMS weekly report on Pakistan ship breaking industry for WEEK 12 of 2014:

Improving demand and levels in Pakistan saw local buyers pick up a number of their favored larger LDT units from existing cash buyer inventories remarkably including several of those hard to sell panamax sized containers.

This could be a breakthrough moment for Gadani buyers who previously rejected containers on the grounds of draft issues that affect an effective beaching. With India and Bangladesh overall paying the same levels for containers as for tankers (due to the quality and lower wastage of the steel and comparatively larger sized propellers enhancing their resale values), this could give owners more options and greater competition on prices for any incoming vessels.

However, the market sales for the week took place between India and Bangladesh with only less fancied (in Pakistan) lower LDT tonnage being concluded this week.

Source: steel guru. 25 March 2014

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