GMS Market Commentary on Shipbreaking in Pakistan in Week 43

Release time：Nov 01, 2019 From：admin

Despite a slew of enquiries, Pakistani Recyclers have yet to really put their money where their mouths are, as very few & firm offers seem to back up ongoing discussions, amidst what seemed to be a resurfacing demand from Gadani this week. The import of cheap Iranian billets, which had greatly affected the domestic ship recycling industry, has reportedly been halted for now. Yet, despite the ongoing situation and current pricing trend (compared to India) that is clearly presenting itself to be the opportune time for Gadani recyclers to get back into the buying on any available large LDT vessels, local recycling yards continue to remain desperately empty.

Unfortunately, as it stands, there is very little by way of serious interest & offers emanating from this market and, as a result, most Cash Buyers and Owners are not viewing Pakistan as a viable recycling destination, despite local offerings being positioned above India.