Following in the footsteps of their Bangladeshi
competitors, India saw local prices heat up once again as the currency began to
settle and steel plate prices made some comparatively impressive gains during
the course of the week.
Consequently, a number of interesting market sales were
concluded, not least, the handysize bulker AL AMAL (6,333 LDT) which fetched an
incredible USD 422/LT LDT, albeit with 220 T bunkers on board at the time of
delivery. Up until last week, prices on smaller bulkers, reefers, general cargo
vessels and tweens were still stuck below USD 400s/LT LDT.
Another interesting move saw the Norwegian controlled roro
VIBEKE (10,650 LDT), with over 2,000 T solid concrete permanent ballast, sold
for guaranteed green recycling for eventual resale into India, at a firm USD
400/LT LDT 'as is' Labuan with about 225 Tons of bunkers remaining on board
upon delivery.
With the Rupee trading back down into the Rs. 61-62 to the
U.S. Dollar as currency analysts predict a steadier end to the year, coupled
with improvements on the steel prices by over Rs. 500, it could be a bullish
end to the final quarter of the year, in what has proven to be a fraught and
turbulent 2013 for local buyers thus far.
Source: steel guru. 26 November 2013
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