Taking the initiative from competing sub continent markets from last
week, Bangladeshi buyers started to display more aggression to acquire this
week, with some decent numbers seen on available tonnage from cash buyer
inventories.
Pakistan and India have taken a majority of capesize bulkers of late, so
perhaps there will be a cool down and digestion period there whilst Chittagong
buyers absorb their share of the upcoming tonnage (particularly for vessels
positioned in the East).
Notwithstanding, bank financing remains a considerable issue and owners
need to take great care in selecting the cash buyers they choose to work with
so as not to get stuck for interminable periods of time waiting for LCs to open
from end buyers who are yet to satisfy bank limits.
Source: steel guru. 10 March 2015
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