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GMS Market Commentary on Shipbuilding in Pakistan in Week 47

Steel News - Published on Fri, 29 Nov 2019

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After a mostly innocuous 1.5 years of buying only the smallest and geographically positioned units on offer, if any tonnage was concluded at all, with many yards and steel mills having closed during this period of inactivity, last week, there was finally a significant sized, market sale in Pakistan to report. The concluded vessel in question was the Greek owned bulker ARISTIMO (8,147 LDT), which sold for a decent USD 380/LT LDT, a price that is presently well-above that from a competing India.

Overall, it is evident that demand is creeping back up in Pakistan once again, and with that, we are finally seeing some improved levels – even though a majority of Gadani Recyclers seem constantly confused and keep second-guessing themselves over whether they should actually go through with their purchases, at these overall firmer levels.

Market Sales Reported
ARISTIMO, Bulker, 8,147 LDT, USD 380/LT LDT

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Posted By : Rabi Wangkhem on Fri, 29 Nov 2019
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