23 September 2013

GMS weekly report on China ship breaking industry for WEEK 37 of 2013:

Chinese buyers continued their irrepressible run this week, one that has seen them snap up the majority of the high profile market candidates at consistently impressive numbers. There is now no doubting that China is the market of the moment (particularly for those vessels positioned in the East) with the stability and demand it has afforded of late.

AMCL of Hong Kong committed one suezmax, the NEW FORTUNER (22,021 LDT) and one VLCC, the NEW VICTORY (38,364 LDT) to local buyers for a price rumored to be in the region of USD 380/LT LDT.

Additionally, HOEGH controlled LNG NORMAN LADY (23,880 MT) fetched an impressive USD 12 Million (about LISD 521/LT LDT) NETT price to the owners, in what has become the show stopping deal of the week. The 3700 LDT of solid aluminum tanks, about 300 Tons of SS 304 non-ferrous fixtures and being a full spare vessel did contribute to its strong price.

Yang Ming line of Taiwan sold their YM ZENITH (19,426 LDT) for a decent LISD 375/LT LDT and Chinese owners committed their handysize bulker ANIK (8,834 LDT) for a firm LTSD 362.5/LT LDT (with 250 T bunkers ROB) as the sales continued to rack up in another busy week.

Source: Steel Guru. 17 September 2013

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