22 July 2014

GMS weekly report on Pakistan ship breaking industry for WEEK 29 of 2014:

As THE market player of the moment, Pakistan buyers tried their utmost to divert any of the market tonnage their way. Having secured a number of vessels recently, including several VLCCS gas free for man entry, demand remains ripe for larger units in particular, at similar prices.

Indeed, even those vessels considered prime India candidates ended up in Pakistan hands, with the TBS controlled bulker TUSCARORA BELLE (7,394 LDT) fetching a very decent USD 491 per LT LDT (with 450 T bunkers on board included in the sale).

Furthermore, with the way the India market has been moving during the last week, it may not be a surprise to see even more units diverted into Pakistan, to satisfy the lush demand at present.

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