GMS weekly report on PAKISTAN shipbreaking industry for Week 51 of 2011:

Despite the number of units that have recently made their way to Gadani shores and beached, there was still demand from one or two of the larger buyers to get their hands on a cape, Suezmax or aframax tanker.

The levels on show reflected what the Indian and Bangladeshi open buyers have been saying in recent weeks, mid 400s on dry and high 400s/LT LDT on wet, but the fact that enquiries are emerging from Pakistan is the most encouraging aspect.

In what must be a record year for local Gadani buyers, Pakistan has proved on a number of occasions to be a more than capable stand in for the oft volatile and at times exhausted Indian market.

Source: Steel Guru (Sourced from GMS Weekly). 27 December 2011

http://www.steelguru.com/middle_east_news/GMS_weekly_report_on_Pakistan_ship_breaking_industry_for_Week_51/242945.html