With some encouraging gains on the steel prices (at
least USD 12/LT LDT) this week the Bangladeshi buyers found themselves keen to
compete with a bullish Indian sub continent market especially on units coming
from the East.
Some improving
demand and numbers therefore emanated from the shorefront as the political
situation thankfully and mercifully appears to have settled down in the country
post-elections.
A dearth of
favored large capsize bulkers and VLCCs and suezmax tankers has seen end buyers
adapt displaying an ability to offer on all types of smaller sized units and
containers (something that Pakistani buyers have been unable to do).
The one market
sale for the week concerned the undertow bulker FORTUNE CLOUD (7,423 LDT), sold
‘as is where is’ for a firm USD 415 per LT LDT with 200 T bunkers ROB. The
vessel had been involved in a collision locally and had suffered some damages
including ingress of water into some of the cargo holds.
Source: steel guru.
25 January 2014
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