01 January 2015

GMS weekly report on Bangladesh ship breaking industry for WEEK 52 of 2014:

Compared with previous years when Bangladeshi buyers were submerged by a deluge of large LDT, high profile units, it has been a relatively quieter year for Chittagong buyers.

Fewer favored capesize bulkers, VLCCs, and suezmax tankers (gas free for hot works) have been available for sale. Many of the panamax containers have likewise ended up heading to India, where buyers on the whole have been more aggressive to acquire.

Similarly, Gadani buyers have led the year on larger LDT vessels, with the majority of VLCCs and even panamax bulkers (almost 70 scrapped in total) heading to Pakistan throughout the year.

However, with many capesize bulkers expected to hit the market due to the oversized order-book next year, it may be a busy year to come for Bangladeshi buyers once again.

Source: steel guru. 31 December 2014

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