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Report on Pakistan ship breaking industry for WEEK 47

Steel News - Published on Tue, 30 Nov 2010

Another busy week for a newly rejuvenated Pakistan market saw a number of market sales register at very firm levels. Two chemical tankers, NIKI and CUSTOM went for levels that even appeared to outstrip those of their Indian counterparts at USD 477/LT LDT as is Fujairah and USD 462/LT LDT respectively.

Less sensitive than Indian buyers on country of build and stainless steel content, these were two impressive purchases and may reflect a renewed aggression in light of the tendency Indian buyers to absorb all tonnage heading their way.

Of course with Pakistan procedures only requiring the gas free for man entry certificate far more wet tonnage has found a home in Gadani of late with the type of levels on offer. It is clear that demand and sentiment especially for the large we units has returned and it is sure to be a busy period ahead for those buyers keen to end the year on a high.

(Sourced from GMS Weekly)

Posted By : admin on Tue, 30 Nov 2010
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