18 June 2014

GMS weekly report on Pakistan ship breaking industry for WEEK 24 of 2014:

Pakistan emerged as perhaps the one bright spot in the sub-continent markets with enquiries emerging for all types of vessels at steadied numbers. The surprising aspect is that Gadani buyers have tended to mirror the sentiments of neighboring India and have positioned their prices just behind.

To this end, a number of local sales reportedly took place, from cash buyer inventories (both ‘as is’ and delivered) that may have been previously earmarked for either Bangladesh or India.

With a number of larger tankers in play (gas free for man entry only), Gadani buyers may be set to acquire some juicy units over the monsoon months whilst both India and Bangladesh lay low.

Source: steel guru. 17 Jun 2014

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