Although prices in South Asia's ship
recycling markets maintained last week's levels, cash buyers predict levels to
regress again as the monsoon season nears.
In addition, Bangladeshi buyers have
committed themselves to a number of Capesize bulkers and are not inclined to
buy more ships.
Prices in Bangladesh remained at USD385 per
ldt for bulkers and USD410 per ldt for tankers, compared with USD380 per ldt
and USD400 per ldt, respectively, three weeks ago.
Angelicoussis-controlled Anangel Shipping
Enterprises, having recycled at least two Capesizes, sold another Capesize for
scrap, offloading 1993-built Anangel Splendour for USD8.03 million or
USD413/ldt for recycling in Bangladesh.
Prices in India trailed levels in
Bangladesh by USD5 per ldt, while bulkers and tankers are going for USD375 per
ldt and USD400 per ldt respectively in Pakistan.
Cash buyer Global Marketing Systems said,
"Monsoon season is also on the horizon in the sub-continent - those
vessels set to deliver in May will be the last batch before continuous rains
start from June (usually lasting until early September). Prices too, tend to be
cooler over this period of time as the labour force returns to their hometowns
as the seasonal rains hamper cutting activities."
With the Eastern Orthodox Christians
celebrating Easter over 12 April, Greek shipowners did not execute many
transactions as well.
Dubai-based cash buyer Global Marketing
Systems said, "It is very much expected that prices will soften further in
the coming weeks, with the recent short spike just experienced based mostly on
cash buyer speculation."
Indian buyers continue to pay good money
for their preferred container ships.
Tsakos-controlled 1992-built container
Hanjin Elizabeth was concluded for USD8.33 million or a phenomenal USD441/ldt
on an 'as is' basis in Fujairah with about 350 tonnes of bunkers, which is more
than enough for the voyage to India.
GMS remarked, "It certainly seems that
for favoured vessels, Indian buyers are prepared to offer over and above market
just to secure the unit - such is demand and capacity at present."
The one sale into Pakistan last week was
Odysea Carriers' 1987-built Panamax bulker Evrialos, which was sold for USD4.10
million or a decent USD407/ldt. However, the shipowner has an option to sell
into India should that market pay better.
Source: ihs
maritime360.14 April 2015
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