Bangladesh is a market worth keeping an eye on post
Eid holidays. Having endured a quiet and underwhelming last few quarters of the
year (largely due to a dwindling capacity after the Q1 binge on units and the
onset of an incessant monsoon season), those buyers with free space are
expected (hoped) to get back to the buying before the year end.
Certainly, in the past few weeks, there have been
signs of a return to form. Several of the hot buyers have been booked with cash
buyer tonnage and one or two vessels have even been diverted from Indian and
Pakistani shores in order to satisfy local demand.
Prices do however, remain fairly uneven and
sporadic across the board. It is a question of identifying the right buyer and
working to conclusion with him on a preferred unit.
An older handy bulker called XING HUA (6,622 LDT)
from Chinese owners was concluded this week for USD 405 per LT LDT ‘as is’
Keelung, Taiwan in a move that looks destined for Bangladeshi shores even
though the age and likely poor condition are sure to raise a few eyebrows
amongst local buyers.
Source: steel guru. 07 Oct 2014
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