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Lion Shipbrokers market report 21 February 2016

Lion Shipbrokers Market Report week 07-21 February 2016. Second hand sales and demolition markets update. 

Lion Shipbrokers market report 21 February 2016

Lion Shipbrokers Market Report week 07-21 February 2016. Second hand sales and demolition markets update. 

Lion Shipbrokers market report 21 February 2016
21 February 2016 - 20:33

Lion Shipbrokers Market Report week 07-21 February 2016. Second hand sales and demolition markets update. 
MARKET COMMENTARY
Bulkers: 
The BDI continued its positive run (up by 24 points this week) and is currently standing at315 points. Although this short rally is a good opportunity for all real Sellers out there to sell fast (as volatility prevails), this week was rather dull, as we recorded just 7 transactions (2 capes, 1 supramax, 1 handymax & 3 handies). 
Prices are sliding further, as it is clearly evidenced in the sale of vintage cape KOHYOHSAN (172K BLT 2001 NKK/JAPAN) sold to Turks for $5 mill while seven months ago (July 2015) she was reported sold for double the money (i.e $10 mill). Four year old Diamond 53 design supramax ANNE KJERSTI (53K BLT 2012 HALONG/VIETNAM) has changed hands for the softlevel of $6 mill, while Germans have purchased at auction handysize resale LONG FORTUNE (36K DELY JUNE 2016 EX- SHANDONG HUAHAI/CHINA) for just $6.75 mill. Daiichi controlled handy OCEAN KITE (37K BLT 2012 HYUNDAI MIPO/S.KOREA) went to Vietnamese buyers for $8.3-$8.5 mill, while her exact sister OCEAN JEWEL was committed one month ago for $8.9-$9 mill (about half a million more).
Demolition: 
The genocide of larger bulkers continues; 31 capers (including ore carriers) and 44panamaxes have been torched since the begging of this year. Pakistan has secured the single skinFPSO unit FARIDAH (LDT 41,261) for the firm price of $245 per lt after several weeks of on/offnegotiations basis advance payment in full prior her sailing from A.G. to Gadani' shores. Bangladesh has snapped 2 VLOC units, namely RENATE (LDT 32,450) & WUGANG ORIENT (LDT 37,342) for $230 & $234 respectively (plus 3 capers and 1 or 2 panamaxes). The rest of the scrapped tonnage this week went to India, despite the continuous softening of the demo rates as Alang plots are quickly filling up (currently at 80% capacity).
Download PDF document from the link below to see all the movements: 

 2016_02_21_lion.pdf

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