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GMS Market Commentary on Shipbreaking in Bangladesh in Week 32 - LOW EBB!

Steel News - Published on Wed, 14 Aug 2019

A few signs of life seem to be emanating from Bangladesh once again as inquiries start to emerge. However, as with all subcontinent markets, local offerings remain suspended well below the USD 400/LDT mark and demand likewise remains at low ebb. Eid holidays are now underway and will last for the next week or so, resulting in limited & minimal local activity not only in terms of sales and deliveries but also engagements with banks, local agents, port authorities etc.

Many in the industry are certainly hoping that Bangladeshi end buyers start to display some of their old exuberance after the holidays, particularly with India and Pakistan struggling so significantly at present and with the monsoon season now nearing an end & as tonnage starts to shift from local yards, interest to purchase may well start to return as September comes around.

NO MARKET SALES REPORTED

Source :

Posted By : Ratan Singh on Wed, 14 Aug 2019
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