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Pakistan challenges 'near monopoly' held by Bangladesh.
(From Lloyds List)
Byline: Brian Reyes in Gibraltar
NOT ones to be easily nudged from the top slot in the demolition market, Bangladeshi breakers responded to aggressive competition from Pakistan by upping the ante.
Chittagong was offering around $465 per ldt for tankers, though as always, higher prices were possible for the right vessels under the right terms.
In Gadani, where breakers recently offered unprecedented price levels that put them on an even keel with Bangladesh, sentiment weakened a little.
Even so, taking a long term view of things, Pakistan continues to offer mouth watering rates in the region of $455 per ldt for large tankers, though it remains to be seen how long this will hold out for.
London broker Clarksons noted that, for now at least, Pakistan was now able to challenge 'the near monopoly' that Bangladeshi breakers have enjoyed for a year and half.
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