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GMS Market Commentary on Shipbreaking in Bangladesh in Week 15 - SEASONAL SPIKE!

Steel News - Published on Wed, 17 Apr 2019

Image Source: KWSnet
Bangladesh snagged a majority of the market tonnage this week as prices spiked dramatically for pre-budget deliveries, prior to June 5th. There remains a lingering fear amongst local Recyclers that duties / tariffs on local steel plates may increase post-budget. As such, most Buyers remain keen to import vessels before the imposition of these new taxes. Moreover, the traditionally weaker monsoon season is also just around the corner and most Buyers are keen to stock up before the advent of the rains, resulting in a final pre- summer / monsoon push for tonnage.

With that in mind, sales continue every week as Temas Line of Indonesia sold two container vessels into Bangladesh this week, with the SPRING MAS (7,296 LDT), which was sold for USD 465/LT LDT and the smaller SELAT MAS (5,719 LDT), which was concluded at a decent USD 462/LT LDT.

MARKET SALES REPORTED
VESSEL NAMETYPELDTREPORTED PRICE
SELAT MASContainer5719USD 462/LT LDT
SPRING MASContainer7296USD 465/LT LDT
 

Source :

Posted By : Rabi Wangkhem on Wed, 17 Apr 2019
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