26 June 2012

GMS report on China shipbreaking industry for WEEK 25 of 2012:

Another week of stability on local markets saw several interesting and high priced sales concluded for the week.

The Cyprus Maritime owned bulker MEXICO CITY (10,979 LDT) went for a huge price of USD 367/LT LDT with the full spares and several hundred tons of bunkers included in the sale responsible for the decent level.

The WELMOUNTAIN (24,308) also with some fuel and built 1992 in Poland fetched a firm USD 360/LT LDT in a direct transaction between owners and yard.

There are open yards to buy in both North and South despite a number of vessels being sold recently - a settled price is contributing to some overall greater interest to acquire.

Source: Steel Guru (Source - GMS Weekly). 26 June 2012

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