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GMS Market Commentary on Shipbreaking in PAKISTAN in Week 19 - OUT OF TOUCH!

Steel News - Published on Wed, 15 May 2019

Image Source: SteelGuru
Pakistani levels remain out of reach from their Indian and Bangladeshi counterparts this week, despite levels softening in both of the competing markets. Although the pricing gap from Gadani has ensured virtually no meaningful tonnage has arrived local yards, Pakistani Recyclers, who have been starved of tonnage for several months now, have had to focus their attention on a supply of small LDT tugs and general cargo units.

Overall, it remains to be seen whether Pakistan can still get back into the buying over the traditionally quieter monsoon season (given that its neighboring competition is slowing down), but all signs (including local fundamentals) suggest that this market may stay on the sidelines for some time to come.

Source :

Posted By : Rabi Wangkhem on Wed, 15 May 2019
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