The BDI fluctuated but overall improved by 7 points since last Friday (currently standing at395 points today) however the decline in asset values continued. See the full 2nd hand report...
MARKET COMMENTARY Bulkers: The BDI fluctuated but overall improved by 7 points since last Friday (currently standing at395 points today) however the decline in asset values continued. We recorded a total of 10 transactions this week (1 VLOC, 4 capes, 2 panamaxes, 2 supramax & 1 handy). Demolition: As China has reduced dramatically cheap steel exports and demand for steel billets hasincreased in Sub-Continent, scrap rates have firmed further to levels of $250-$255 for handy/handymax size and $255-$260 for panamax/cape size bulkers. Steel mills prices in China have increased the past 10 days and local demo rates have followed the trend. Download PDF document from the link below to see all the movements: 2016_03_18_lion.pdf
