The lack of activity before Eid seems finally to be catching up with buyers in Chittagong as an improvement in demand and pricing has been seen locally upon the conclusion of the holidays.
However, levels have yet to push on to the highs that many cash buyers may have been hoping for and there is only good demand on very specific units – high LDT vessels (hot works for tankers) of course remain the preference as ever.
However, banking problems still persist in Bangladesh and owners need to be selective when choosing buyers for their tonnage, as those not able to control LC timings from their end buyers may cause plenty of costly delays for unsuspecting owners.
Source: steel guru. 14 October 2014