GMS weekly report on PAKISTAN shipbreaking industry for week 02 of 2012:

After a busier few weeks, Pakistan failed to register a single market sale as deals began to be fixed once again in Bangladesh, India (where some sort of signs of a revival came through this week) and China (who continued to pay sufficiently strong levels keeping geographically well positioned tonnage located in Chinese waters, destined for the Northern and Southern shores of China).

Enquiries for some of the larger vessels persisted, but with prices a healthy touch behind India and Bangladesh, it may be a quieter few weeks for buyers unless the occasional tanker gas free for man entry presents itself.

There were also rumors that the BW VLCC BW STADT (41,097 LDT) had been committed to one keen buyer for a price approaching USD 480/LT LDT, the vessel had to be reactivated from cold lay up in Labuan, Malaysia with 700 T IFO ROB.

Source: Steel Guru (Sourced from GMS Weekly). 17 Jan 2012

http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_week_02_2012/245868.html