The
anticipated Christmas / New Year slowdown has shown few signs of beginning Just
yet as all markets continue acquiring tonnage and previous deals / cash buyer
'as is' tonnage continues to arrive respective demo locations at pace.
Indeed
even yards in Vietnam and the ever-busy Turkish market (which has supposedly
secured more units, not LDT, than Bangladesh this year) took vessels for the
week as owners aimed to cut their losses and put money in the bank to appease
financiers and balance sheets before the end of the year.
Even
an upswing in charter rates (amidst a dearth of tankers of late) has failed to
slow die number of candidates especially with many vessels approaching surveys
in die early part of the coming year. The current supply seems largely to be
from the container sector (up to mid 90s built and sometimes even younger) and
a whole rait of 80s built handysize (and occasionally older) bulkers.
India
struggled on for another week really only taking green candidates and favored
units with keen end buyers backing respective purchases. The Indian Rupee was
still trading at excess 54 to the dollar and a recovery in steel prices has yet
to be seen. Notwithstanding the recent volatility reigning in India, Cash buyer
speculation still seems to be teetering into ongoing negotiations on the back
expectations of a firming January.
Pakistan
and Bangladesh were other die two Indian sub-continent markets of the moment
with enquiries emerging for die larger vessels on offer, yet not necessarily
the supply (certainly on the tanker side) yet forthcoming to satisfy that
demand.
China
remains open to buy all types of vessels from reefers, to passenger vessels to
general cargos to capesize bulkers and tankers (gas free for man entry only).
Levels come the end of the week were once again on die rise off the back of an
improving stock market, and for diose vessels positioned in the area, the
voyage over to Bangladesh no longer justifiable.
For
week 50 of 2012, GMS demo rankings for the week are as below:
|
Country
|
Market Sentiment
|
GEN CARGO
|
TANKER Prices
|
|
Bangladesh
|
Cautious
|
USD 385/lt Idt
|
USD415/ltldt
|
|
Pakistan
|
Cautious
|
USD 380/lt Idt
|
USD 415.lt idt
|
|
India
|
Weak
|
USD 375/lt Idt
|
USD 410.lt idt
|
|
China
|
Bullish
|
USD 365/lt idt
|
USD 380/lt Idt
|
Source: steelguru. 18 December 2012
http://www.steelguru.com/international_news/GMS_report_on_ship_breaking_industry_for_WEEK_50_2012/295584.html
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