05 August 2014

GMS weekly report on Bangladesh ship breaking industry for WEEK 30 of 2014:

With Eid holidays concluding and government offices, banks, and end-buyers all back to work, it was expected that levels in Bangladesh would pick up once again. It has however, been a slow start so far without any marked improvement.

As such, few vessels are likely to end up in Bangladesh in the face of rampant interest from Pakistan (in particular) and comparatively more interest in India.

At present, prices are almost USD 20 per LT LDT from their sub-continent neighbors, and for such a difference in price, many owners would rather position their vessels to India Pakistan, something that could well see Bangladesh buyers continue to miss out on their share of market tonnage.

One small vessel was concluded for the week at what appears to be a speculative price, with the general cargo / tween unit SEA WORKER (1,991 LDT) fixed at USD 445 per LT LDT from Russian owners.

Source: steel guru. 5 August 2014

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