Ø Further slide on price
Torrid Time!
The Chinese market dipped further lower
this week as prices fell by USD 20/LT LDT in both South and North. As a result
levels are now OVER USD 100/LT LDT lower than what the Indian sub continent
markets are currently offering.
Consequently that has left the one deal
for the week - that of the bulker GRAND MIDAS (5,258 LDT), concluded at USD
385/LT LDT - in some jeopardy with several recent deals also facing
renegotiation.
Realistically Chinese prices are now
region LISD 350/LT LDT on dry vessels with wet units some USD 15-20 higher, but
most yards at the moment are unwilling to even offer, shocked by the plunge in
prices that have beset the industry.
Source: Hellenic Shipping News (Sourced
from GMS Weekly). 16 November 2011
http://hiweb.blob.core.windows.net/hellenicshippingnewsbody/pdf/November%2011,%202011.pdf
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