After a turbulent last few weeks, Chinese prices showed some signs of settling finally -despite many yards still refusing to offer at numbers above USD 400/LT LDT.
Dry vessels have been seeing USD 405-410/LT LDT with wet vessels some USD 10-15/LT LDT ahead. Indeed several deals on dry vessels, general cargo and reefers were done just below in the high 300s and low 400s/LT LDT.
The one exception was the STX capesize bulker OCEAN QUEEN (23,138 LDT) - fixed by one ambitious Indian cash buyer at USD 430/LT LDT 'as is' South Korea with minimum fuel for the expected voyage across the Indian sub continent.
Source: Steel Guru (Sourced from GMS Weekly). 21 February 2012http://www.steelguru.com/international_news/GMS_weekly_report_on_ship_breaking_industry_for_WEEK_07_2012/251311.html