With BDI slowly improving, Buyers appetite has increased with many sales to report on the dry-bulk front. Japanese owners are proving for one more week that they remain the most realistic sellers in the market, Chinese buyers seem to have finally woken up; chasing all dry-tonnage at scrap-related prices while Greek buyers are active as always in all sectors. Two panamax bulkers changed hands this week. Indian buyers have paid $9.8 mill for Japanese controlled geared unit SAGARKIRAN (73K BLT 1995 HYUNDAI/S. KOREA CR 4X25T GRABS) which was reported 2 weeks ago sold for $11 mill. German controlled PAIUTE (70K BLT 1995/SANOYAS/JAPAN) is reported committed on subjects for $10.2-10.5 mill to undisclosed buyers. Japanese controlled modern supramax LIBRE (52K BLT 2011 KANASASHI/JAPAN CR 4X30.5T) has been purchased by Bangladesh Buyers for a price of $14.75 mill as well as older handymax KRITON (42K BLT 1990/JAPAN CR 4X30T) for $8 mill (price in line with the sale of AFRICAN STAR (42K BLT 1991 OSHIMA/JAPAN CR 4X25T) back in January for $8.5 mill).  Turkish buyers have acquired Japanese controlled handy SANTA PACIFICA (28.4K BLT 2000 IMABARI/JAPAN CR 4X30.5T) for $10.5-10.7 mill, while older unit OCEAN ID (24.5K BLT 1994 MITSUBISHI/JAPAN CR 4X30T FIXED & COLLAPSIBLE STANCHIONS) was snapped by Greek buyers (hearing clients of Transbulk) for $7.8 mill basis dry-dock freshly passed last month in China. Chinese buyers have agreed to buy vintage units SIAM JADE (27.5K BLT 1986 MITSUBISHI/JAPAN CR 4X25T LDT 6913, SS/DD DUE) & SIAM OPAL (32K BLT 1985 JAPAN CR 4X30T LDT 6559) for levels of $3-3.2 mill each, which is exactly their scrap price currently in Subcontinent.

In the Tanker segment, we had a very active week; Suezmax NAVIGA (150K BLT 1998/JAPAN) has attracted $16 mill from Indonesian buyers. Three aframax units changed hands; Late 90's blt QVM SUCCESS (105K BLT 1998/S. KOREA, LDT 17013) has gone to undisclosed interests for $10.5 mill basis ss/dd passed end of last year, while one year younger unit MILLENNIUM EXPLORER (102K BLT 1999/JAPAN ZINC COATED NO COILS) went to clients of Centrofin of Greece for $10.9 mill. Older unit PETAR ZRINSKI (101K BLT 1994/CROATIA) also went to Greek buyers, clients of AVIN, for $8.5 mill.

Indonesian buyers have bought Japanese controlled panamax unit PACIFIC BRAVERY (69K BLT 1999/JAPAN) for $8-8.5 mill most probably for conversion. Modern MR sisters TORM LAURA & TORM LANA (53K BLT 2008/2009 CHINA) are reported to have commanded a price of $55 mill en-bloc by clients of Minerva Marine of Greece while in a Chinese shipbuilder controlled sale, MR resale unit TORM ANABEL (53K BLT 2011/CHINA) went to Chinese leasing company for $32 mill against a 7 year bareboat to clients of Parakou Shipping of Hong Kong at a rate around US$ 9,000 per day. Buyers from South America have purchased double hull vintage MR unit TAMBOV (40K BLT 1996/CROATIA COILED/EPOXY/IMO III 9,362 LDT) for $9.8 mill.  At an auction in Rhode Island USA, marine line coated, double hull product unit STAVRODROMI (15K BLT 1999/GERMANY IMO2/MARINE LINE COATED) has attracted a price of $3.5 mill by undisclosed buyers. Smaller units ELIZA PG (5.4K BLT 1992/UK EPOXY/COILED) obtained $3.4 mill from Nigerian buyers while SEMUA BERSATU (5.8K BLT 1998/JAPAN) received $4.8 mill from undisclosed buyers. LPG tanker GAS KALOGEROS (4919 CBM 5K BLT 2007/JAPAN) has gone for $16.8 - 17 mill to undisclosed Vietnamese interests.

In the container/mpp/tween segment, we had a quiet week; Vintage geared feeder SANNE (1122 TEUS 14.7K BLT 1996/GERMANY CR 2X45T) went for a price region $4-4.1 mill to undisclosed while similar feeder OSNABRUCK (942 TEUS 13K BLT 1996/GERMANY CR 2X45T) got $4.25 mill from Indonesian buyers.   

In the Demolition sector we had one more week of healthy activity. Subcontinent sentiment is steady with prices ranging at $465 for bulkers, at $490 for tankers & at $490-500 for Tweendeckers/Containers. In other major demo-markets this week, China remains stable paying $425, likewise for Turkey paying $335 per lt.