After the
excitement from earlier weeks, seeing several capesize bulkers and a VLCC
concluded locally, the Bangladeshi market witnessed favored tonnage bypass the
shores of Chittagong on towards Pakistan, resulting in an overall quieter local
week.
Concluded at
USD 454.50/LT LDT, the Korean owned VLCC G. GLORY (39,205) was perhaps the most
interesting sale last week (gas free for hot works), the price likely being
attributable to a pre-budget (June 6th) delivery.
Presently,
it does appear that no Chittagong buyers are willing to consider vessels for
post budget deliveries, for fears that potential increases in duties / taxes on
purchases could affect vessels arriving at later dates.
Meanwhile,
strikes and banking issues (particularly for untried and tested new end buyers)
persist in the country - sometimes slowing local deliveries to a crawl.
Overall, Bangladesh is lagging a touch behind their Indian and (in particular)
Pakistani (who bid on the same sort of tonnage) rivals meaning several vessels
have been bypassing Chittagong shores of late.
Source: Steel
Guru. 24 April 2013
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