With Eid holidays now in
full swing to bring an end to this month of Ramadan, it has been an
understandably quieter last month in the Pakistan market. With the exception of
the beaching of two TITAN managed VLCCs as mentioned last week, the offering
has been halfhearted and lacking in enthusiasm.
After this relative
period on the sidelines, it could be reasonably expected that the Pakistan
market fires back into contention come end of Eid next week. Only time will
tell whether this becomes a reality but in all likelihood, Gadani buyers will
be keeping a close eye on the developments in the challenging India market
before committing on any new purchases.
Pakistan buyers can
certainly reflect on a fruitful first half to the year with some record numbers
of vessels heading to Gadani shores and some of the strongest levels in the
Indian sub continent on show.
Source: Steel Guru. 13
August 2013
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