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Bangladesh demolishes rivals on price

Bangladesh demolishes rivals on price

Dhaka: Bangladesh continues to lead the way in the demolition stakes, able to offer in excess of $4oo per ldt for tankers, something none of its ship recycling rivals - India, Pakistan and China - can get near to offering. Last week saw Greek shipowner Aegean committing its 69,118 dwt, 1980 Japan-built tanker Alliumfor basis delivery in Bangladesh and being paid $415 per ldt for 12,428 ldt, $55 more than anyting Alang breakers could offer. For dry bulk tonnage, Bangladesh is also at the front of the queue with offers of $360 per ldt, India offering $340 per ldt and Pakistan third with $335 while China has slipped from the radar screen, offering barely $250 for decent tanker tonnage. 'It is difficuilt to see how either India, Pakistan or China will be able to compete in the foreseeable future for anything other than smaller tweendeckers and singledeckers etc. for whom the longer ballast voyage to Bangladesh is not commercially viable,' noted broker Clarkson Asia in a weekly report.  [04/09/06]

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