14 May 2014

GMS weekly report on Bangladesh ship breaking industry for WEEK 19 of 2014:

Despite several hot buyers emerging once again to bid on units basis pre-budget deliveries (before June 5th), it has been an overall sluggish second quarter to the year in Bangladesh with many end buyers unavailable to bid, having spent big to fill their plots during the first quarter of the year.

Whilst the local currency and steel plate prices have remained stable overall for a majority of the year, there have been concerns on LC limits and financing capabilities in Chittagong with not every buyer capable of buying vessels now that banks have tightened their lending limits.

However, with big buyers finally starting to clear their plots and as long as there are no major surprises in the budget of June 5th, levels should maintain and perhaps improve a touch, even with monsoon season on the horizon.

Source: steel guru. 14 May 2014

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