Rumours were rife this
week that the Hosco controlled VLCC HEBEI MOUNTAIN (41,660 LDT) had been sold
for a price over USD 525 per LT LDT into Pakistan to an untried and somewhat unknown
buyer a big risk indeed for such a large LDT unit.
The subsequent decline
in sentiment in Pakistan over the course of the weekend (due to continued
import of cheap Chinese billets), makes the materialization of any deal
significantly less likely particularly as such untested buyers may struggle to
put up the rumoured 40% deposit requested by owners.
Having booked many large
LDT units before the Eid holidays at firm rates, it may be some time before we
see Pakistan buyers back in aggressive purchasing mode and for the first time
in some months they have slipped down the rankings behind Bangladesh in terms
of pricing and sentiment.
Source: steel guru. 14
October 2014
No comments:
Post a Comment