Demolition (Wet: Softer- / Dry:
Softer-):
The increasing uncertainty and market
instability started to take its toll this week, pushing prices down as
speculation of a further improving market diminished. Conditions in most
commodity markets and increasing currency pressures will start to play a major
role in the demo market, likely causing offered prices to drop further over the
short term. At the same time there is still no shortage in demo candidates while
buying activity from scarp buyers has drop somewhat further pushing views that we
have reached peak for now and that a correction in prices is almost a
certainty.
Demo prices dropped in almost all
markets this week, with Wet tonnages falling levels of around 460 - 525$/ldt,
while dry tonnages decreased to about 440 - 505$/ldt.
Most notable this week was the price
paid by Bangadeshi breakers for the VLOC bulker ‘Ruhr
N’ (305,836 dwt – 43,370 ldt-blt 87) which reportedly went for a firm price of
$ 534/Ldt.
Source: Hellenic Shipping News (Sourced from Intermodal
Shipbrokers Co, www.intermodal.gr). 27
September 2011
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