Cash buyers showed a willingness to acquire
ships for demolition last week, amid talks that the Indian government would
impose import taxes on Chinese steel.
Improving local steel prices and a
stabilising Indian rupee also saw scrap prices rising by at least USD20/ldt.
Dubai-based cash buyer Global Marketing
Systems (GMS) commented, "Capacity remains very good locally and it is
encouraging to finally see end buyer enquiries emerge for all types of vessels
in the subcontinent again. Consequently, several market sales took place this
week at improving rates and a number of other units were under negotiation at
speculative levels as cash buyer competition ramped into overdrive once
again."
Prices in Bangladesh improved to USD380/ldt
for bulkers and USD400/ldt for tankers, compared with USD365/ldt and USD385/ldt
two weeks ago.
Arpeni Pratama Ocean Line's 1990-built
Panamax bulker Citrawati fetched USD3,711,630 or USD390/ldt, while Pacific
International Lines' (PIL's) 1992-built multipurpose carrier Kota Berlian was
committed at USD2,975,600 or USD400/ldt.
Brokers told IHS Maritime that having
acquired quite a number of Capesize bulkers since the start of the year, cash
buyers and scrapyards have been slowing down their purchases of such ships.
However, this should change if scrap prices hold up.
Meanwhile, prices in India improved to
USD370/ldt for bulkers and USD390/ldt for tankers, compared with USD350/ldt and
USD370/ldt two weeks ago.
GMS said, "Moreover, with yard
capacity standing at almost 60% following a period of market decline and
inactivity, now seems like the ideal time for many local recyclers to jump back
into the buying."
PIL also offloaded another multipurpose
carrier, its 1993-built Kota Berjaya, for a decent USD2,905,875 or USD405/ldt.
Furthermore, Goldenport sold its 1992-built
Handymax bulker Golden Trader, fetching USD4,092,634 or an excellent
USD398/ldt, due to the country of build and condition. IHS Maritime's
Sea-web.com shows the ship was built by Split Shipyard.
Source: ihs
maritime. 36030 March 2015
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