Despite two market
sales, the Bangladeshi market struggled on for yet another week (in terms of
sentiment and pricing). With Eid, one of the biggest holidays of the year
taking place next week, the focus of nearly all end buyers remained on the
upcoming festivities rather than negotiate on tonnage.
Meanwhile, heavy
rains have also beset Chittagong over the monsoon period again dampening demand
and making existing deliveries, beachings (for various clearances and
boardings) and cutting, almost impossible.
Of the sales that
did take place this week, the handymax bulker SEVENKAR (8,206 LDT) was
committed for a decent USD 460/LT LDT (with the premium obtained for the 250 T
bunkers on board).
In a more
speculative purchase, the woodchip carrier WINTEC (9,410 LDT) obtained a very
firm USD 480 per LT LDT, with the concerned cash buyer presumably speculating
on the market picking up post Eid.
Source: steel guru.
22 July 2014
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