Broker’s Insight:
Demolition (Wet: Softer+ / Dry: Softer+)
Poor sentiment continued to take
its toll on the market especially as rumors started to circulate of potential Bangladesh
With so many dry units circulating the market,
it was the dry sector that felt the brunt of the price drop while at the same
time prices for tankers held slightly more stable.
With such a big price drop
noted the past two weeks it was inevitable that a lot of deals would fall through.
At the same time the significant number of very large vessels which have headed
to the breakers yards this past month has meant that breakers already have a lot
on their plate and are not so active as they were at the end of the summer.
Demo prices fell considerably for
yet another week, with Wet tonnages not at levels of around 450-525$/ldt, while
dry tonnages fell to about 430 - 500$/ldt.
Most notable this weewas the price
paid by Pakistani breakers for the MR tanker ‘Jag Pari’ (29,139 dwt – 8,775ldt-blt
82) which reportedly went for a firm price of $ 540/Ldt basis delivery ‘as is’ Colombo
Source: Hellenic Shipping News (Sourced from Intermodal
Shipbrokers Co, www.intermodal.gr). 4
October 2011
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