The BDI continued its positive momentum for one more week. Sellers are starting to feel the breeze of optimism blowing their way instead of the breeze of desperation to dispose their tonnage at best. Vintage tonnage values are improving, bolstered by the firming scrap prices; This is evident in the en-bloc sale of panamax sisters SAMJOHN AMITY + SAMJOHN LIBERTY (74K BLT 1998 NKK/JAPAN LDT 9900) which have been sold for further trading (for $2.8 mill each) rather than for scrap, about $400k above their demo price while three years younger panamax unit JI MAY (76K BLT 2001 TSUNEISHI/JAPAN) is rumored committed for the steep price of $3.8 mill.
Scrap rates are bucking the trend as Subcontinent markets have improved by almost $20 per long ton. Deal of the week is without a doubt the sale of panamax SUERTE (LDT 11,343, 72K BLT1995 DAEWOO/S. KOREA) for a whopping $262 per lt.
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