The volume of vessels recently concluded into China (both market and private) this week finally started to take its toll, with many yards not even speaking on new candidates due to capacity issues.
Those that were willing to open their mouths to offer were doing so at far lower levels as sentiment started to show signs of taking a dramatic dip from (so far) competing Indian sub-continent numbers.
The one bulker concluded saw the PACIFIC BANGHU (5,307 LDT) fetch a strong (on today's market) USD 391/LT LDT into North China.
Source: steelguru. 5 March 2013http://www.steelguru.com/chinese_news/GMS_weekly_report_on_Chinese_ship_breaking_industry_for_WEEK_9/304249.html