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GMS Market Commentary on Shipbreaking in Bangladesh in Week 23 – SILENT NIGHTS!

Steel News - Published on Wed, 12 Jun 2019

Image Source: The Japan Times
With the Holy month of Ramadan coming to a close after the week long Eid festivities this week, it was no surprise to see a near silent Chattogram ship recycling market, just as it has been for the last few weeks. Virtually no new enquiries or offers have been forthcoming from the Bangladeshi market due to the holidays and this has as much to do with the upcoming budget of June 13th as it has to do with the fact that most yards in Bangladesh are stuffed with tonnage.

However, one speculative Cash Buyer has taken a gamble on the Japanese owned container vessel IWASHIRO (8,175 LDT) that was fixed this week at an impressive USD 415/LT LDT basis an ‘as is’ Haiphong, Vietnam delivery, with 150 Tons bunkers included in the sale. The Buyer must certainly be hoping, either for Bangladesh to bounce back in the week(s) ahead or that Indian (longer voyage from the Far East) sentiments / pricing starts to turn in order to keep the deal in the green.

IWASHIROContainer8/175USD 415/LT LDT ('as is' Haiphong, Vietnam with 150 Tons bunkers ROB)

Source :

Posted By : Rabi Wangkhem on Wed, 12 Jun 2019
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