A bumper week in the Indian market saw no less than
10 market deals concluded -some at very impressive numbers indeed. The fear
though, is that many of the prices on offer by over eager cash buyers are not
representative of levels on the ground, as the markets have seen prices fall
some USD 10-15/LT LDT in the last week alone due to softening scrap steel
levels.
The appetite for containers continues with three
larger LDT units sold into the 460s/LT LDT. The Singapore controlled BANJO
BRIDGE (17,594 LDT) and VAN AMAZONAS (17,548 LDT) achieved USD 465/LT LDT - the
younger age at 1998 built and attractive size may have been responsible for the
price which still looks too firm today.
Another interesting sale concerned that of the
Turkish owned panamax bulker ALMA ATA (15,583 LDT) for a crazy USD 440/LT LDT
(the price reserved for a tanker today) -the 450 T of bunkers and 1999 build
(even though keel was originally laid in 1992) has likely contributed its fair
share to the hefty price on show. The sister ship from the same owners was sold
into China.
The molten chip carrier NTABENI (12,251 LDT) - a
complicated vessel At the best of times owing to insulation / cargoes -
obtained a firm USD 420/LT LDT.
Source: GMS Weekly.
05 February 2013
http://www.steelguru.com/indian_news/GMS_weekly_report_on_Indian_ship_breaking_industry_for_WEEK_5/300532.html
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