26 October 2011

Intermodal Weekly Demolition Report for Week-42 of 2011:

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 market reopens. 

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

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