As their sub
continent competitors improved pricing once again, the Bangladeshi market was
categorically left trailing with many vessels even proceeding from the East to
both Indian and Pakistani markets, in order to enjoy the premiums on offer
there.
The monsoon rains
have not helped, either leaving much of Chittagong flooded. But the virtually
non-existent demand has seen local buyers miss out on a number of juicy vessels
of late including capesize bulkers and VLCCs.
Finance also
remains an issue with certain local byers struggling to get their LCs in order,
for the purchase of new vessels. Many cash buyers are therefore treating
Bangladesh with plenty of caution at present and are favoring competing sub
continent markets as a result for their existing inventories.
Source: steel guru. 15 July 2014
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