The dry bulk market has kept its positive momentum and after months of anticipation the rising BDI has broken through the psychological barrier of 1000 this week (currently standing at 1048 points).
Bulkers: The dry bulk market has kept its positive momentum and after months of anticipation the rising BDI has broken through the psychological barrier of 1000 this week (currently standing at 1048 points). Although we are in the middle of the summer, low ships' prices combined with increasing chartering market are attracting a lot of buying interest. We experienced a quite active week in the second hand market with thirteen bulk carriers changing hands (4 kamsarmaxes, 1 panamax, 5 supramaxes, 3 handies), the vast majority sold to local summer shoppers. Demolition: Subcontinent rates continue to soften for one more week. Larger bulkers (capes & panamaxes) are facing levels below $330 per lt, while smaller sizes (handies/handymaxes) are getting circa $310-$320 per lt. No tanker was torched for one more week due to their strong chartering market. For an overview of the recycling market rates, please check our comprehensive demometer below: 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_17_july_2015.pdf