Bulkers:
We experienced a quiet week in the second hand market due to various holidays around theworld. Near & Middle East was celebrating Eid Mubarak (Bayram), while in the Far East, China closed yesterday for their National week, Hong Kong had Wednesday-off due to Mid -Autumn festival, South Korea was not working Monday & Tuesday for their Thanks-giving holiday while Taiwan was also closed on Monday for their national day. We recorded a total of 8 transactions (2 capes, 3 supramaxes & 3 handies). Asset values are softening further as the BDI fluctuates to levels below the 900 points.
Market psychology remains negative and buying interest is usually coming from big speculativeplayers who are positioning themselves, or by cash rich small (or medium) shipowners who areattracted by the "bargains" out there, especially Chinese built tonnage prices.
Demolition:
Subcontinent market remain volatile, attracting very few candidates; the rates offered are disappointing (region of low $300 per lt) and are expected to deteriorate further. We recorded a total of just 3 sales this week (1 panamax & 2 handymax bulkers). For an overview of the recycling market rates this week, please check our comprehensive demometer below:
CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:
http://www.seanews.com.tr/reports/lion_02_october_2015.pdf
We experienced a quiet week in the second hand market due to various holidays around theworld. Near & Middle East was celebrating Eid Mubarak (Bayram), while in the Far East, China closed yesterday for their National week, Hong Kong had Wednesday-off due to Mid -Autumn festival, South Korea was not working Monday & Tuesday for their Thanks-giving holiday while Taiwan was also closed on Monday for their national day. We recorded a total of 8 transactions (2 capes, 3 supramaxes & 3 handies). Asset values are softening further as the BDI fluctuates to levels below the 900 points.
Market psychology remains negative and buying interest is usually coming from big speculativeplayers who are positioning themselves, or by cash rich small (or medium) shipowners who areattracted by the "bargains" out there, especially Chinese built tonnage prices.
Demolition:
Subcontinent market remain volatile, attracting very few candidates; the rates offered are disappointing (region of low $300 per lt) and are expected to deteriorate further. We recorded a total of just 3 sales this week (1 panamax & 2 handymax bulkers). For an overview of the recycling market rates this week, please check our comprehensive demometer below:
CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:
http://www.seanews.com.tr/reports/lion_02_october_2015.pdf