Whilst not as precariously placed as the Indian market, there was still a
distinct lack of interest to acquire units from Pakistani end buyers.
The onset of Diwali holidays in India may place the spotlight firmly back
on Pakistan and Bangladesh (both having recently emerged from Eid holidays
themselves), yet it seems like both markets are content to wait and watch
market developments (expecting a downward trend) before committing themselves
on new units.
Rumors were also rife this week that the 41,660 LDT VLCC that had been
mooted as a potential sales candidate last week at an unthinkable price above
USD 525 per LT LDT was once again back on the market the most high profile (and
costly) of the recent failed deals and something that has caused owners to lose
even the original prices they had from reputable cash buyers as well.
Source: steel guru. 21 October
2014
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