Some
opportunistic moves by keen Sellers saw a huge number of deals concluded for
the week into the improving Indian market.
Indeed,
no less than EIGHT market vessels were concluded (3 containers and 5 bulkers)
as the price was seemingly right for man}' owners to offload their older
tonnage.
The
price varied drastically from unit to unit though with some perhaps overly
optimistic cash buyers hedging their bets ahead of the market. Evidence of such
actions are the hugely speculative purchases of the NORTHERN" DIGNITY
(14,435 LDT) and NORTHERN'VITALITY (11,106 LDT) for USD 455/LT LDT 'as is'
Singapore - with 450 T bunkers and USD 375/LT LDT 'as is' North Germany
respectively with min bunkers.
By
contrast, a private steel prop bulker of 7,953 LDT achieved a comparatively
poor USD 403/LT LDT - showing mat having a keen end buyer in place is at least
half the battle in securing a decent price.
Drumming
up interest on vessels with poorer specs with so much supply in the market is
often difficult with end buyers now able to call the shots on price and type of
unit required.
Source: Steel Guru. 28 August 2012
http://www.steelguru.com/indian_news/GMS_report_on_Indian_ship_breaking_industry_for_WEEK_34_2012/280563.html
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