Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Competition heats up in the breaking sector

Competition heats up in the breaking sector

Lahore: Bangladesh finally has a rival in the ship breaking stakes. After close to 18 months of near total control, Bangladesh is waking up to increased competition from Pakistani breakers.

Last week for instance Pakistanis bought the 38,700 dwt Athenian Freedom for $465 per ldt and the 37,700 dwt Laertis for $470 per ldt.

Notes Clarkson Asia in its latest weekly market report: 'Although there is a bit further to go before the Gadani based buyers reach the US$490/ldt high that the Bangladeshis reached last year, they are now the most competitive buyers in the market and offer the owners of tonnage open in either the Med or AG a real alternative to Bangladesh, plus the obvious savings from not having to perform the additional ballast voyage to Chittagong.'  [26/03/07]