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Lion Shipbroker Market Report week 44- 06 November 2015

Asset values are deteriorating further as the BDI today has plunged to 631 points, 32 points below the historical low of 663 points back in December of 2008  (Lehman Brothers collapse). 

Lion Shipbroker Market Report week 44- 06 November 2015

Asset values are deteriorating further as the BDI today has plunged to 631 points, 32 points below the historical low of 663 points back in December of 2008  (Lehman Brothers collapse). 

Lion Shipbroker Market Report week 44- 06 November 2015
08 November 2015 - 20:45

 Bulkers: 

Asset values are deteriorating further as the BDI today has plunged to 631 points, 32 points below the historical low of 663 points back in December of 2008  (Lehman Brothers collapse). This is clearly illustrated in the deal of modern caper  CHURCHILL  BULKER  (179K BLT  2011 HYUNDAI /S. KOREA ) which was committed to clients of Marmaras back in August for $37 mill and was supposed to be delivered last week, however the transaction has fallen through and she was quickly snapped by clients of Diana Shipping for just $28 mill, a discount of $9 mill in less than 3 months.

Demolition: 

Shipowners are holding out for better rates to sell their older tonnage as demo rates have collapsed. As China has flooded the global market with cheap steel billets, metal from old ships is being bought even below $300 per lt by breaking yards in Subcontinent compared to $500 per lt same time last year. In Turkey, rates are stable at about $170 per lt while in China the trend is negative, paying less than $145 per lt.

 3rd Quarter Overview

Scrapped Ships

India 34 (28%)

Bangladesh 27 (22%)

Turkey 21 (17%)

Pakistan 12 (10%)

China 8 (7%)

 Category

Bulk carrier 46 (38%)

General cargo 22 (18%)

Other/Offshore 18 (15 %)

Tanker 14 (12%)

Lion Shipbrokers Market Report-06 November 2015



CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:

http://www.seanews.com.tr/reports/lion_06_november_2015.pdf

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