09 April 2014

GMS weekly report on Pakistan ship breaking industry for WEEK 14 of 2014:

Following the sale of some larger LDT tankers in recent weeks into Pakistan (the EAGLE OTOME, 15,646 LDT being the most recent), and the arrival of FPSO SOUTHERNPEC 3 last week, the appetite in Pakistan seems to have picked up.

Many of those end buyers who had remained so dormant during the currency volatility earlier this year, finally appear to have woken up and are keen to take on all types of large LDT units even in special cases, containers.

The Pakistani Rupee and scrap steel prices remain stable and many end buyers are keen to stock their yards before the onset of monsoon season as well as the Pakistani budget in June. They may also be mindful of the effect of the Indian elections of mid May and the strong performance of the Indian Rupee last week.

Source: steel guru. 8 April 2014

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