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GMS update on shipbreaking in Bangladesh in Week 1 - ALL TALK!

Steel News - Published on Wed, 11 Jan 2017

Image Source: Maritime Executive
The Bangladeshi market was curiously restrained during the first week of the year as all the lingering talk of demand for large LDT containers and bulkers appeared to dissipate this week. Part of the reason could be the nearly 200,000 LDT / 16 vessels that has either arrived Chittagong anchorage or has been beached over the last tide.

Consequently, it was no surprise to see no market sales reported for the week as Bangladesh missed out on a majority of the market vessels being negotiated over the Christmas period.

Notwithstanding, local fundamentals remain comparatively stable as rumors of a possible Indian decline started to encourage end buyers to talk the Bangladeshi market down once again. It therefore appears that the Chittagong market is destined to miss out on a majority (if not all) of the favored vessels to competing markets once again despite never really competing over the festive period.

GMS Weekly

Source :

Posted By : Rabi Wangkhem on Wed, 11 Jan 2017
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