Bulkers:
The dry bulk market is maintaining its positive momentum, floating around 1100 points this week. This weekend we are entering the traditional summer holiday month of August so as expected, we experienced a quiet week in the second hand market with five bulk carriers changing hands (3 panamaxes, 1 ultramax and 1 supramax), the vast majority sold to local owners.
Demolition:
Activity this week is literary non-existent (zero reported sales) although the Ramadan and Eid Holidays are over. Bulker shipowners are holding out for better rates (i.e in excess of $300 per lt) while cash buyers are reluctant to offer anything close to $300 per lt for bulkers. The general feeling is that the bottom has not been reached yet and we are expecting rates to deteriorate to the low $200 per lt levels. In tankers, the strong tanker market is keeping busy all available tonnage hence we have not picked up any tanker scrap candidates.
See the full report by downloading the PDF document through the link below:CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:
http://www.seanews.com.tr/reports/lion_30_july_2015.pdf