GMS weekly report on PAKISTAN shipbreaking industry for WEEK 30 of 2011:

The only tiling Pakistan could do to stay in the hunt on market vessels was to improve on price. The fact that Ramzan holidays are now upon us and with Ramadan just around the corner, there has been some increased demand but there appears little chance of prices jumping up to Indian levels for the time being.

Indeed, Pakistani buyers have seen some of their favored units of redirected to Indian shores this week as several owners have delivered tankers with gas free for hot works certificates, leaving Pakistan's advantage as a man entry only market slightly redundant.

Nevertheless with demand still evident and with many anticipating that the current Indian spike could be only temporary it may be only a matter of time before Pakistani buyers stock their yards again ahead of the month of Ramadan.

Source: Steel Guru (Sourced from GMS Weekly) Wednesday, 03 Aug 2011

http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_WEEK_30/218062.html