4th of November week.
The aftershock from the tragic accident on
board a tanker in Gadani was made manifest
last week, with local yards closed and no works
being carried out. Sentiment on shore
plummeted and local buyers abstained from
any activity as Pakistani yards are expected to
remain closed until completion of investigations
likely by the end of this week. Still, a few cash buyers appeared ready to bet on renewed
appetite upon re-commencement of operations as was evident from the few reported sales
that surfaced. Rates in Bangladesh and India remained more or less steady as the markets
were still trying to find their foothold amidst uncertainty brought about by the election results
in the US and shaky local fundamentals.
source : Athenian Shipbrokers S.A.
