Pakistan’s central bank has put a stop to the issuing of letters of credit (LC) for scrapped ships, meaning one recent sale has been sent to Indian breakers instead.

TradeWinds had earlier reported Lila Global, the shipowning arm of cash buyer GMS, selling the 172,600-dwt capesize Lila Kyoto (built 1999) into Pakistan, while Euroseas' 5,610-teu intermediate boxship Akinada Bridge (built 2001) was said to be heading there too, at a price of $596 per ldt.

The Lila Kyoto had arrived in Pakistan breaking centre Gadani in late December on private terms.