With the Chinese New Year only a week away and the migration from the cities to the countryside already underway, there was only time for one or two very prompt last minute deals before doors close for the next few weeks.
Indeed those deals that were done seemed to have captured a last minute fervor in prices with two bulkers, LIONESS C (10,471 LDT) and SEA WAVE (9,040 LDT) from Greek owners capturing exceedingly firm levels of USD 468/LT and 470/LT respectively albeit with 500 T bunkers ROB at time of delivery.
Indeed there is some speculation as to whether relevant cash buyers have picked up the vessels on as is where is basis on speculation that
may pick up once again now that It has opened. Chittagong
The other concluded deal concerns that of the Chinese owned panama bulker HU JIANG( 11,101 LDT) initially fixed for Chittagong last week at USD 462/LT LDT before the cash buyers failed to lodge the deposit and owners concluded her directly into China.
Source: Steel Guru (Sourced from GMS Weekly). 17 January 2012