A less than impressive showing from the Bangladeshi market this week continued to see much of the tonnage (including cash buyer as is inventories) diverted to competitors in Pakistan and India.
Despite improving local steel plate prices, appetite for tonnage and prices for vessels remained subdued at the currently diminished levels, much to the surprise of cash buyers who are still waiting for the much anticpated post Eid price improvement.
If current levels persist, it could be a bleak few weeks yet for Chittagong buyers with no imminent signs of their preferred larger LDT vessels hitting the market any time soon.
It is clear therefore that Bangladeshi buyers will need to get their act and pricing together, in order to secure any of the market tonnage being offered their way something that should be expected of them given the increase in steel prices and improving demand seen this week.
Source: steel guru. 27 August 2014http://www.steelguru.com/indian_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_34/347698.html