In the absence of any real competition once again, Bangladesh fired on, bidding on a number of larger units that were paraded in the market and even snaring a full spares high priced Capesize bulker.
The TSAKOS owned SYDNEY (23,019 LDT) was sold for a price many had thought usually reserved for tankers, due to being full spares and usually (very) good condition that vessels from these owners usually arrive in.
Additionally, BLT owned M/T ANJASMORO too was committed at a healthy USD 490/LT LDT this week, basis "as is" Singapore, with Bangladesh being the logical final destination.
There was word also of several more off market Capesize vessels being sold to local buyers something that should see activity potentially slow somewhat in the coming weeks as man}' of the big, solvent players take a step back from the bidding game having already acquired significant tonnage.
With the June 10 budget and monsoon season now firmly on the horizon, most buyers are expected to cool their buying over the course of May poor timing perhaps with a number of large units (of the Capesize variety in particular) due to hit the market shortly.
Source: Steel Guru. 7 May 2012