GMS weekly report on Pakistan ship breaking industry for WEEK 12 of 2011:

As perhaps the biggest mover of last week some slight strains in capacity were starting to show come Friday as end buyers began to exhaust their finances and available space to actually take vessels.

Nevertheless, as India also peaked, Pakistan became a viable market alternative to a Bangladeshi market stuck in a quagmire of political administration and perhaps intrigue. Steel prices remained strong and a lack of beaching tides coupled with an easier import process for tankers has left Gadani as a favored market for many of late.

The one market sale that did register the heavily circulated GULD NOMAD from Middle Eastern owners fetched a remarkably strong USD 510 per LT LDT as is Fujairah with sufficient bunkers for the voyage to most probably Pakistan.

Source: SteelGuru. (Sourced from GMS Weekly). Tuesday, 05 Apr 2011

http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_12/198913.html