27 March 2012

GMS report on INDIAN shipbreaking industry for WEEK 12 of 2012:

A spate of smaller units coming onto the market - including a vast array of reefers, as the high season once again due to close - saw a number of deals concluded for the week into India.

Well over 5 market reefers were concluded for the week (not all could be reported) in what is expected to a busy few weeks ahead in a sector that is gradually being phased out - in favor of container vessels.

Star Reefers sold their TAURUNGA STAR (4,873 LDT) and VALPARAISO STAR (5,613 LDT) 'as is' Fujairah with sufficient fuel for the voyage to WC India. The Norwegian country of build and some 233 T of aluminum on board led to the strong USD 525/LT LDT on the Taurunga Star, whilst the comparatively poor Spanish country of build led to the less than impressive USD 415/LT LDT on the Valparaiso Star*.

Following the sale of the EX EXXON VALDEZ last week into the Indian market (converted to bulker and sold as the ORIENTAL NICETY 'as is' Singapore for USD 460/LT LDT), several more bulkers were sold this week including the POPI S (11,024 LDT) for an extraordinary USD 489/LT LDT and the FISHER K (7,224 LDT) for USD 475/LT LDT.

Finally/ chemical tanker SLIN QLTEEN 1 saw a remarkably firm price, being committed at USD 820/Ton, thanks to the 426 Tons of Stainless Steel onboard.

Source: Steel Guru. (Sourced from GMS Weekly). 27 March 2012

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