GMS report on Pakistan shipbreaking industry for WEEK 50 of 2012:

Pakistan established themselves this week as firmly ahead of their Indian competitors with a greater aggression to buy at better numbers.

Indeed, the Danish built, ABS class, full spares panamax bulker 05TSEE MERCHANT considered to be a prime Indian candidate was surprisingly concluded to Gadani buyers for a highly impressive USD 410 per LT LDT.

With a paucity of tankers currently on the market and a lack of overall demand for container vessels, reefers and other general cargo/MPP types, Pakistan buyers have to switch their focus back to bulkers. With a less volatile currency and steel market than India, firm Gadani buyers seem able to outbid their Indian counterparts on desired tonnage at present.

Market sales reported –

VESSEL NAME	TYPE	LDT	REPORTED PRICE
OSTSEE MERCHANT	Bulker	12,926	USD 410/LT LDT

Source: Steel Guru. 18 December 2012

http://www.steelguru.com/middle_east_news/GMS_report_on_Pakistan_ship_breaking_industry_for_WEEK_50_2012/295530.html