Demolition (Wet:
Softer - / Dry: Softer -)
The official closing of the Bangladeshi
market was enough to through any remaining optimism out the window.
Shipbreakers
seemed to have put an almost halt on purchases, driving prices significantly down
compared to the levels seen a week prior.
What’s more is that there is still an
oversupply of demo candidates emerging and this will put a further downward
pressure on prices over the next couple of weeks or at least until the Bangladesh
What’s more definite is that the next couple of days we are going
to see a further drop due to holidays in India
and Pakistan
Demo took a dive this week with wet tonnages falling to around 430 - 510$/ldt, while
dry units dropped to about 410 - 480$/ ldt.
Most notable this weekwas the price
paid by Indian breakers for the tanker ‘Liberator T’ 39,350dwt - 10561ldt-blt 96)
which reportedly went for a firm price of $ 520/Ldt.
Source: Hellenic Shipping News (Sourced from Intermodal
Shipbrokers Co.; www.intermodal.gr). 25
October 2011
http://download.hellenicshippingnews.com/pdf/Intermodal%20Report%20Week%2042%202011.pdf
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