The market of the moment continued to make significant
progress this week as cash buyers saw it fit to speculate on a full on market
recovery. For another consecutive week, the currency was trading into the low
60s against the US Dollar (61-62 range) as stability continues to prevail.
Steel prices too began to settle somewhat, after the
dramatic fluctuations seen in the previous month. All of this lias encouraged
previously reluctant buyers to emerge back onto the scene, ready to acquire new
units.
Of the deals done, the sale of the Swedish built full spares
Bahri container / RoRo type SAUDI TABUK (18,764 LDT) caught the eye with an
astonishing USD 440/LT LDT obtained 'as is' Fujairah with about 250 T bunkers
remaining on board. This is the FOURTH unit Bahri have sold this year as their
fleet restructuring continues.
It may be that the relevant cash buyer lias decided to
speculate on further market improvement (despite delivery taking place at the
end of October), as this price is most certainly not available, even on a
delivered WC India basis today.
The other market move saw a similarly strong price obtained
for the Polish owned MPP triple decker CHOPIN (7,455 LDT). The vessel fetched a
decent USD 435/LT LDT with the favoured size, age and cargoes (being just one
step down from a container vessel) the reasons for the strong price on show.
Finallv, the last sale of the week was the full spares
bulker MV B. CAMLICAI that was committed at a more modest S405/LT, thanks to
the spare prop adding premium.
Source: steel guru. 8 October 2013
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