Having witnessed the Bangladeshi market click into gear last week, Pakistan buyers had to improve their levels in order to secure their share of the market tonnage.
Consequently, one or two vessels were concluded to Gadani end buyers at impressive rates.
The grain trading panamax bulker THE WATCHFUL (9,646 LDT) was the pick of the bunch, fetching USD 400/LT LDT (with 750 T bunkers remaining on board upon delivery). The handy bulker SHEHAB ALMUHIEDINE (5,677 LDT) was also concluded for a decent USD 380 per LT LDT.
With India seemingly out of the running at present, this interesting battle between Pakistan and Bangladesh looks set to resume during the course of the coming week(s).
Source: steel guru. 18 Mar 2015