12 March 2015

GMS weekly report on Bangladesh ship breaking industry for WEEK 09th 2015

Taking the initiative from competing sub continent markets from last week, Bangladeshi buyers started to display more aggression to acquire this week, with some decent numbers seen on available tonnage from cash buyer inventories.

Pakistan and India have taken a majority of capesize bulkers of late, so perhaps there will be a cool down and digestion period there whilst Chittagong buyers absorb their share of the upcoming tonnage (particularly for vessels positioned in the East).

Notwithstanding, bank financing remains a considerable issue and owners need to take great care in selecting the cash buyers they choose to work with so as not to get stuck for interminable periods of time waiting for LCs to open from end buyers who are yet to satisfy bank limits.

Source: steel guru. 10 March 2015

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