26 June 2014

GMS weekly report on Bangladesh ship breaking industry for WEEK 25 of 2014:

The situation in Bangladesh remains unchanged since the announcement of the budget whereby increased taxes and duties on new units and on bunkers kept many end buyers on the sidelines.

Keeping local appetite further in check has been the slew of pre budget purchases (and deliveries) that has kept the local yards relatively busy during the downpours.

As such, Bangladesh has been a silent spectator to ongoing negotiations, except when vessels discharging in the area are being negotiated specifically basis a Chittagong delivery.

Case and point, the sale of TBS controlled ROCKAWAY BELLE that was committed to Chittagong at an exceptional (excess) USD 470 per LT LDT. The 275 Tons of guaranteed bunkers remaining onboard at the time of physical delivery along with American ownership helped push the price up to spectacular territory this week.

Source: steel guru. 25 June 2014

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