With Bangladeshi buyers keeping a watchful eye, as ever, on events elsewhere in the Indian sub continent, there was little movement on price as an increasing appetite to acquire new units (with many yards empty) started to be felt on the ground.
The truth is that this growing demand may not start to be satisfied until after Ramadan at the earliest - particularly with most Sellers so far unwilling to commit their units at the new (price) realities of today, or at least at the prices that most owners would like to see for their ageing beauties.
One smaller 1977 built bulker, FU DA (4,611 LDT) was committed at the lowest level of the year so far, at USD 370/LT LDT. Chinese yards surely have nothing to fear if such sub continent prices continue as the ever narrowing price gap and a steady supply of vessels finishing in the Far East are likely to come their way.
Source: steel guru. 30 July 2013