Bangladeshi buyers could only watch as the majority of the market tonnage proceeded to Indian and Pakistani shores this week.
Many of the bigger buyers currently have their plots full and thus the aggression to buy is largely absent from the Bangladeshi market for the time being. However, it is still galling to see vessels of larger LDT, which have traditionally been Bangladeshi candidates, bypassing the shores of Chittagong to head to competing markets.
There was no competing with India and Pakistan on tankers and containers where prices presently appear to be arrow-ing up to the USD 500/LT LDT mark. However, cash buyers are not as keen to speculate on Bangladesh, where a muted atmosphere seems to have enveloped much of the country’s ship-recycling sector.
Source: steel guru. 1 April 2014http://www.steelguru.com/indian_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_13/335857.html