News of at least SEVEN COSCO sales into China did little to stir the market out of the lull it has endured for the majority of the year so far.
The sale of various bulkers and containers far below market numbers has seen one of China’s largest state owners receive the approximate USD 150 per GRT premium along with the corresponding USD 150 per GRT discount on a new building of their choice. The government incentive will run until 2015 in efforts to stimulate both the shipbuilding and ship recycling sectors.
Source: steel guru. 14 May 2014