Despite a few sales in recent times and some
improvement in demand and local steel prices, it has been a disappointing third
quarter overall for the Bangladeshi market.
Many favored
larger LDT vessels (even those coming from the East) have bypassed Chittagong
for Gadani shores, whilst an abnormally torrential monsoon season has seen
flooding beset much of the country.
With many
areas under water, this has seen new development and building projects stall
and Bangladeshi yards are subsequently failing to shift the stockpiles of
ship’s steel built up in their yards.
There is the
hope that the upcoming Eid holidays and the end to monsoon season might finally
bring with it a renewed energy and demand to an industry, which has displayed a
certain sluggishness so far in the second half of 2014.
Source: steel guru. 30 September 2014
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