Pakistan buyers were simply interested bystanders as
both the Bangladesh and Indian markets surged on further ahead by as much as
USD 20 per LT LDT this week. Indeed, it was even difficult for Gadani buyers to
compete on tankers (gas free for man entry only) with the premium due for hot
works tank cleaning into India or Bangladesh surely now a consideration for
ship owners with potential units.
It may only be
a matter of time therefore before Pakistan buyers improve their numbers just to
be able to compete on available tonnage into the sub continent. Lack of favored
tonnage.
The currency
remains stable as do steel prices, whilst a proliferation of (undesired)
container units continue to hit the market something that may see Pakistani end
buyers starved of tonnage, at least for the immediate future.
Source: steel guru.
25 January 2014
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