The
focus shifted firmly from the ship-recycling sector to the political arena with
upheaval across the country bringing activity in Chittagong to a virtual standstill.
Amidst reports
of 16 (and perhaps higher) dead after violent clashes between protestors and
the local police, working hours have been severely affected as strikes from the
opposition party have been called for several days on end. Activists have
responded to the death sentence of an Islamist leader (Delwar Hossain Sayeedi)
for crimes dating back to the war of Independence in 1971.
This is
hampering banking efforts and deflecting interest from the buying of new
vessels. Whether deliveries are delayed due to the slowdown in opening /
releasing LCs remains to be seen.
At a time when
bulkers are well below the USD 390/Ton level, ne confirmed sale from Mondav saw
the Korean owned clinker carrier SB QUEEN (8,094 LDT) sold for a firm USD
418.50/LT LDT to one ambitious buyer.
Source: steelguru. 5 March 2013
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