This group tracks the responses of shipping industry towards environmental health concerns, highlights influence of shipping companies from EU, US and Japan etc on IMO and its Marine Environment Protection Committee & South Asian governments. It is keen to restore beaches in India, Bangladesh and Pakistan to their pristine glory for the coming generations. For more information visit: www.toxicswatch.org, banasbestosindia.blogspot.com
Beaching of vessels in Bangladesh Starts Again?
However, the reality on the ground in Bangladesh remains slightly different and the extreme resistance in the wake of the beachings is expected to place into jeopardy, subsequent attempts to import and beach vessels. Consequently, we expect little activity from Bangladesh until the rest of the local yards open up, which is still expected to take some time.
Meanwhile, based on the extremely high prices of some purchases this week, it appears some cash buyers are taking positions with their fixtures. On the other hand, others remain on the conservative side, possibly due to a healthy dose of inventory already on hand. As a result, differences of almost USD 40 per tonne have been seen between those looking to take positions (perhaps with the Bangladesh angle in mind) and those inclined to stay on the more cautious/realistic side.
At the time of writing, high profile Avin, Tanker Pacific and Great Eastern vessels were being negotiated and the spread of levels was of some mystery to both owners and brokers alike.
Finally, Turkey too jumped in on the action this week and managed to take home single decker M/V KOBZAR I of 1,870 LDT at a firm price of USD 295 per LT LDT.
For week 38, GMS demo rankings for the week are as below:
Country Market Prices GEN Cargo Sentiment Tanker Prices
India Bullish USD405/ltldt USD445/ltldt
Pakistan Steady USD395/ltldt USD430/ltldt
China Bullish USD380/ltldt USD400/ltldt
Bangladesh Bullish N/A N/A
(Sourced from GFMS)