Much like the Pakistani market at present Bangladeshi buyers are there to acquire preferred units whilst largely ignoring those vessels that actually are firm candidates.
A dearth of VLCCs, suezmax tankers, and capesize bulkers oil late has left Chittagong buyers somewhat frustrated. Even panamax bulkers of which there is still a decent supply are failing to attract the attention of local buyers whose eves are firmly focused on tonnage of 20,000 LDT and upwards.
By way of speculation, the larger LDT units make sense to cut these takes a number more months than the smaller vessels, which can be scrapped far quicker before getting a new one at a new price.
Hence, the reason India is the ideal destination for smaller units, with volatility on steel prices, currency and sentiment all too persistent currently.
Source: Steel Guru. 25 December 2012
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