A small spike in steel prices (by around USD 5 per LT LDT) saw few Bangladeshi buyers with free plots jump back into the buying with renewed optimism.
Some impressive numbers were therefore seen on small to mid-range units ranging from 5 to 12,000 LDT with several buyers even emerging for some of the smaller LDT general cargo units on offer (thus drawing them away from Far East demo markets such as China).
Having seen much of the tonnage in recent weeks evade their clutches, it was perhaps only natural to see Bangladeshi buyers emerge once again with perhaps the only surprise being the absence of the larger tonnage buyers in favor of the usually less fashionable lower LDT units.
Consequently, the TBS controlled handymax bulker ALABAMA BELLE (8,178 LDT) achieved an extraordinary USD 481 per LT LDT (less comms). The USA ownership, good cargoes, and almost 500 T bunkers remaining on board upon delivery were responsible for the impressive price on show.
Source: steel guru. 12 March 2014http://www.steelguru.com/international_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_10/334673.html