14 May 2014

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

After a number of sales at decent numbers especially tankers gas free for man entry only it has been a slower last few weeks in Pakistan, with many end buyers reluctant to import any new vessels before the budget announcement of early June.

Gadani buyers still seem unable to compete with India (especially on containers) and that is unlikely to change until the budget.

For the time being then, local buyers are content to wait and watch market movements, hoping that no new taxes or dues are imposed that may hurt ship recyclers and adversely affect ship prices.

Source: steel guru. 14 May 2014

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