Hot on the heels of the improving Indian market, open Pakistani buyers with enquiries started to emerge at an encouraging rate this week.

One deal of note was concluded as Essar continued their clearout of older tonnage with the sale of the 1983 built Denmark bulker MAHAVIR PRASAD (18,882 LDT) for USD 398 per LT LDT.

With the Rupee the defining factor in India though, it would always be difficult to keep up with their neighbors and despite snaring the odd larger bulker and tanker (gas free for hot works), the majority of the tonnage has headed to Indian shores over the recent few weeks.

Source - GMS Weekly

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