The BDI continued its slow increase and it is currently standing at 327 points (up by 12points since last Friday). Various ships reported as sold the previous week, were actually circulated for sale again this week, such as Diamond 53 supramax ANNE KJERSTI (53K BLT 2012HALONG/VIETNAM) and vintage handy logger MAGIC ORIENT (28K BLT 1995 IMABARI/JAPAN) which were supposed committed for low $6 mill & $1.65 mill respectively. Overall we experienced a quiet week with only 6 transactions (2 capes, 2 kamsarmaxes, 1 supramax & 1 handymax).
Although we recorded just a few demo deals this week, we understand from ourdiscussions with prominent cash buyers that more & more bulkers are flooding the market, while the scrapping rate is accelerating. We understand that 4 more capes are heading for the Subcontinent's shores, bringing up the tally to 35 capers scrapped since the begging of this year.
Download PDF document from the link below to see all the movements:
Lion Shipbrokers market report 26 February 2016 - Week 8
The BDI continued its slow increase and it is currently standing at 327 points (up by 12points since last Friday). You can download full report in .pdf format.