The Bangladeshi market took their share of vessels
this week to keep pace with competing markets. Vessels discharging clinker in
the area such as the Chinese owned FU XIANG (7,609 LDT) were the most logical
candidates for the Chittagong market bearing in mind the strength of China and
their Indian sub-continent competitors in Pakistan and India.
The USA controlled aframax tanker ORKNEY SPIRIT
(16,476 LDT) obtained a special price of USD 440/LT LDT 'as is' either in
Kaohsiung or Hong Kong, with about 800 T bunkers expected to be on board upon
delivery. The concerned cash buyers will have to clean the vessel themselves to
hot works standards in order to obtain entrv into Bangladesh. However, the
decent size and USA ownership should see the vessel fetch a decent price into
Chittagong.
A rarity of favored units in Bangladesh currentlv
(owing to the performance of competing markets / overall lack of preferred
units such as capesize bulkers in the market) should see the price pushed up
accordingly.
Turkish owners sold the bulker ALBUS (6,829 LDT) for
a firm USD 425/LT LDT in the other market move for the week. It will be
interesting to see if the number of candidates increases with the expected
absence of the China market owing to the impending Chinese New Year holidays
for the next few weeks.
Source: GMS Weekly.
5 February 2013
http://www.steelguru.com/indian_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_5/300525.html
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