Bulkers:
Down it goes again.... the BDI broke the psychological barrier of 1000 points this week (from 1055 last Friday to 994 today), confusing all of us once more.
Despite the weak dry market, we experienced an active summer week in the second hand market with 9 bulker transactions on record: 3 kamsarmaxes, 2 panamaxes, 3 ultramaxes and 1 handymax. It is clearly evidenced in this week's sales that modern tonnage built in mama-huhu quality Chinese shipyards is sold at serious discount even compared to Sino-Japanese built (Tsuneishi Zhousan shipyard) or Philippino-Japanese built tonnage (Tsuneishi Cebu shipyard); Kamsarmax resale BBG DIAMOND (81.7K BLT 2015 WUCHUAN/P.R.C) attracted $22 mill basis prompt delivery, while TESS 82 kamsarmax resales XING MIN HAI (81.6K BLT TSUNEISHI ZHOUSHAN/P.R.C) and HULL SC242 (81.6K BLT TSUNEISHI CEBU/PHIPPINES) commanded both prices in excess of $27 mill, more than five million difference.
We also understand that nineties vintage panamax STAR NICOLE (73.5K BLT 1997 SUMITOMO/JAPAN) remains for sale, although she has been widely reported sold to Chinese buyers for region $3.7-$4mill.
CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:http://www.seanews.com.tr/reports/lion_21_august_2015.pdf
Down it goes again.... the BDI broke the psychological barrier of 1000 points this week (from 1055 last Friday to 994 today), confusing all of us once more.
Despite the weak dry market, we experienced an active summer week in the second hand market with 9 bulker transactions on record: 3 kamsarmaxes, 2 panamaxes, 3 ultramaxes and 1 handymax. It is clearly evidenced in this week's sales that modern tonnage built in mama-huhu quality Chinese shipyards is sold at serious discount even compared to Sino-Japanese built (Tsuneishi Zhousan shipyard) or Philippino-Japanese built tonnage (Tsuneishi Cebu shipyard); Kamsarmax resale BBG DIAMOND (81.7K BLT 2015 WUCHUAN/P.R.C) attracted $22 mill basis prompt delivery, while TESS 82 kamsarmax resales XING MIN HAI (81.6K BLT TSUNEISHI ZHOUSHAN/P.R.C) and HULL SC242 (81.6K BLT TSUNEISHI CEBU/PHIPPINES) commanded both prices in excess of $27 mill, more than five million difference.
We also understand that nineties vintage panamax STAR NICOLE (73.5K BLT 1997 SUMITOMO/JAPAN) remains for sale, although she has been widely reported sold to Chinese buyers for region $3.7-$4mill.
CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:http://www.seanews.com.tr/reports/lion_21_august_2015.pdf