Despite a few sales in recent times and some improvement in demand and local steel prices, it has been a disappointing third quarter overall for the Bangladeshi market.
Many favored larger LDT vessels (even those coming from the East) have bypassed Chittagong for Gadani shores, whilst an abnormally torrential monsoon season has seen flooding beset much of the country.
With many areas under water, this has seen new development and building projects stall and Bangladeshi yards are subsequently failing to shift the stockpiles of ship’s steel built up in their yards.
There is the hope that the upcoming Eid holidays and the end to monsoon season might finally bring with it a renewed energy and demand to an industry, which has displayed a certain sluggishness so far in the second half of 2014.
Source: steel guru. 30 September 2014