The political situation
worsened further this week in Bangladesh, with strikes and blockades
(instigated by the opposition party) bringing the country to a virtual
standstill.
This has impacted
negatively on the ship recycling scene with most end buyers pre occupied with
their safety and who the next ruling party might be, rather than stocking up on
new units.
A canny few however, had
started to acquire vessels in the hope that commodity prices (steel in
particular) would improve significantly, as tends to be the case, during times
of crisis.
The one market sale for
the week concerned the smaller container vessel STX SINGAPORE (6,663 LDT) from
STX Korea (under the watchful eyes of the banks) for USD 375/LT LDT (‘as is’
Singapore with min bunkers remaining on board). The vessel may yet turn out to
be an India or even China (if rates improve locally) candidate, depending on
the best options open to the cash buyer upon delivery.
Source: steel
guru. 10 December 2013
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