All
of this sitting by and watching whilst their Pakistan and Indian competitors
continue to roar ahead in terms of price and vessels secured, has seen one or
two more tentative enquiries emerge from the Bangladeshi market this week.
While
the levels have been largely disappointing - with bulkers still trading well
below USD 400/LT LDT - this may be the first encouraging sign to emerge from
the Chittagong market.
One
smaller bulker, the ATLANTIC EXPRESS (6,508 LDT) was committed for a lowly LISD
385/LT LDT, in the clearest sign yet that willing owners - particularly if
discharging in the area - will accept market realities.
The
scrap steel price remains underwhelming however and as long as yards stay as
stuffed as they presently are, any recovery of sorts will remain on immediate
hold.
Source: Steel Guru. 16 October 2012
http://www.steelguru.com/indian_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_41/287777.html
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