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GMS update on Shipbreaking in Bangladesh in Week 51 - STUMBLING BLOCKS!

Steel News - Published on Thu, 28 Dec 2017

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As Bangladesh has remained THE recycling destination of choice for much of this year, especially for a majority of the large LDT wet tonnage that was sold during 2017, it has, at the same time, been a frustrating recent past where this market has been stranded in a peculiarly paralytic mode of sorts.

Even though VLCCs take longer to cut, the 14 of them sold into Bangladesh this year (with several of the Iranian vessels heading to India due to the odd payment structures) are still a manageable number for experienced local recyclers.

Meanwhile, local steel plate prices have proven to be a major source of frustration for local buyers with insignificant gains that have resulted in slow moving recycled product that is failing to shift from yards at pace and is proving to be a major stumbling block for an improved market demand and sentiment.

As such, given the ongoing situation, the market ended the week on a silent note, with no market sales to report.

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Posted By : Nanda Koijam on Thu, 28 Dec 2017
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