Market Malaise:
The Chinese market malaise continued for another
week despite some older sales surfacing at what now appears to be rather firm
numbers.
There has been a general aversion to even offer for
the past few weeks with many in the industry reluctant to put down numbers for
fears of further falls perhaps just around the corner.
The Chinese owned bulker WIN GLORY fetched an
exceedingly high USD 450/LT LDT to one yard in North China
(due to the fact she has a bronze spare propeller and is reported to be in very
good condition). The Panamax bulker SEALINK (11,770 LDT) was sold some weeks
ago to Changjiang yard also in North China ,
for another firm price of LTSD 430/LT LDT.
Today most yards are talking only very low 400s/LT
LDT (if at all) on dry vessels and some USD 15-20/LT LDT higher for wet units.
Source: Hellenic Shipping News (Sourced
from GMS Weekly). 26 October 2011
http://download.hellenicshippingnews.com/pdf/October%2021,%202011.pdf
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