Bangladeshi buyers continued to witness juicy vessels
eluding their clutches – even those coming from locations in the Far East. Whilst
buyers have failed to deliver on price in recent months, demand and capacity
remains rampant, with many yards having been empty for quite some time.
A slow and steady improvement in local steel plate
prices this week (up by as much as USD 7-8/LT LDT) has seen Bangladeshi prices
inch up marginally.
Chittagong buyers however, continue to struggle with
their Indian sub-continent counterparts. With much of the existing inventory
(steel, non ferrous and other materials) not shifting from yards due to a slowdown
in development projects (in part due to the massive flooding seen this
monsoon), prices are not expected to pick up significantly any time soon.
One sale however was concluded, with the RoRo MPP
type unit ATLANTIC TRADER (8,840 LDT) sold for over USD 505/LT LDT. The car
decks on board usually find buyers keen to pay a premium as the steel from the
decks (on PCCs in particular) is often rerolled to aid the construction of
smaller coastal trading vessels.
Source: steel guru. 9 September 2014
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