Despite the odd sale
being reported mainly from vessels discharging in or close to Chittagong waters
and able to deliver before the budget of June 5 th most end buyers are choosing
to wait and watch market developments rather than offer on candidates and
compete with an over-zealous Indian market.
No changes to budget
expected. It is not expected that any new tariffs, duties, or taxes will be
imposed in the upcoming budget but most buyers, as usual, would rather remain
cautious in their offerings and buying in case any undesirable changes come to
pass.
The one deal of the week
saw the Chinese controlled Panamax bulker DA FU STAR committed for USD 470 per
LT LDT for a very prompt end May delivery and beaching, in what is likely the
last pre budget sale to be recorded.
Source: steel guru. 27
May 2013
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