It was a quieter overall week in Pakistan as Indian and Bangladeshi buyers stole the headlines (in terms of tonnage secured). Gadani buyers have acquired their share of well priced tonnage of late with various aframax, suezmax, and VLCC tankers making their way to the shorefront.
As a result, some of the aggression to fill plots may be waning and a shift in momentum may be seen in the upcoming weeks, to competing sub continent markets whose plots remain empty and the hunger to buy, increasingly more impressive.
Having dominated the price charts and overall sales volumes for the best part of two months, Pakistan can look back with extreme satisfaction for large chunks of the year and lay claims to a job well done.
Gadani is fast becoming known as the go to market for larger LDT vessels and the market has so far remained largely insulated to the regular and harmful fluctuations of both India and Bangladesh.
Source: steel guru. 16 September 2014