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GMS Market Commentary on Shipbreaking in Bangladesh in Week 02 - COOLING DOWN!

Steel News - Published on Tue, 15 Jan 2019

Image Source: SteelGuru
Some of the troubles that flared up in Bangladesh post-elections on December 30th (including accusations of fraud and calls for a recount), finally seemed to have subsided this week and this has allowed end Buyers to survey the market and offer once again. However, given the extent of the ongoing negativity that is pervading the competing subcontinent markets, Bangladeshi Buyers presently see no reason to offer high numbers, which is leaving certain Cash Buyers in a precarious position with regards to their previously concluded expensive (and still unsold) tonnage.

Furthermore, given the plethora of beachings this week alone (12 ships and in excess of 135K Tons), plots are starting to fill up again even as much of the unsold inventory is still vying a Bangladeshi redelivery in the weeks ahead.

Source :

Posted By : Rabi Wangkhem on Tue, 15 Jan 2019
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