GMS weekly report on Pakistan shipbreaking industry for WEEK 20 of 2011:

As the annual budget neared ever closer, Pakistan buyers were left satisfied at a fruitful couple of months that has seen a multitude of units including three VLCCS delivered to end buyers.

As such, there was nearly no fresh activity to report with the budget too near to really bid on and take delivery of fresh units before some potential new taxes come into play for any vessel imported after the budget date.

Whether Pakistan rebounds to previous levels with yards now stocked and monsoon season pulling prices ever lower in both India and Bangladesh remains to be seen. However, it is expected that a period on the sidelines cherry picking favored units could be the order of the day for the next few months.

Source: SteelGuru (Sourced from GMS Weekly).Wednesday, 25 May 2011

http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_20/206726.html