- Disconnect still evident
- Market shows few signs of improving
- 3 sales take home top numbers
Damaging Deals:
Market volatility was again evident for
the week with a clear disconnect between cash buyer levels and local price
expectations, which remain very evident and damaging deals by the day.
Business continued to be concluded at
levels entirely separate from market reality, with owners only going home happy
if they have managed to get cash buyers to fully perform on the speculative
positions that have helped them concluded the deal in the first place.
With market sentiment showing virtually
no promising signs of improvement over the recent weeks or in the immediate
future, several deals concluded at levels seemingly out of reach, will likely
be under severe scrutiny at the time of arrival.
The Chinese owned bulker NEW LEGEND
FORTUNE (5,722 LDT) achieved USD 515/LT LDT owing to the fact that the vessel
would arrive with minimum 220 TIFO.
The Chandris controlled LOUKA (15,991
LDT) received a remarkable USD 549/LT LDT due to the fact she was built at a
favored Ukrainian shipyard (favorable to end buyers due to the amount of
non-ferrous found on board and the comparably lower wastage).
MSC have also continued their clear out
of older tonnage as the MSC ALTRELIE (16,854 LDT) that went for a firm USD
540/LT LDT.
Market sales reported:
|
Vessel
name
|
Type
|
LDT
|
Reported
price
|
|
LOUKA
|
Tanker
|
15,991
|
USD 549/LT LDT
|
|
MSC AURELIE
|
Container
|
16,854
|
USD 540/LT LDT
|
|
NEW LEGEND FORTLJNE
|
Bulker
|
5,722
|
USD 515/LT LDT
|
Source: Steel Guru (Sourced from GMS Weekly) 11 October 2011
http://download.hellenicshippingnews.com/pdf/October%2007,%202011
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