Whilst there was no competing with their Pakistani
counterparts, Indian buyers had to remain hot on their heels in order to have a
chance at securing any market tonnage of note.
Yet, inward clearance costs remain more expensive,
gas freeing far more stringent (with tankers required to be gas free for hot
works as opposed to gas free for man entry only in Pakistan) and there are no
tides in Gadani to contend with (therefore less waiting time).
So the majority of vessels are still heading to their
closest neighbors and competitors. Where Indian buyers tend to triumph is for
green vessels, along with containers, RoRos and passenger vessels (the draft is
usually too high for Gadani buyers to consider and the beachings are therefore
unsatisfactory occurring too far from shore for cutting to commence promptly).
It was therefore no surprise therefore to see the
RoRo / general cargo unit ATLANTIK NYALA (9,210 LDT) committed for a decent
price region USD 500/LT LDT to Alang buyers this week.
India will therefore have to keep up the pace,
despite constantly fluctuating fundamentals, to stay in with a chance of
snaring vessels from a rampant Pakistan and an improving Bangladesh.
Source: steel guru. 9 September 2014
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