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Lion Shipbrokers Market Report: WEEK 06 – 07 FEBRUARY 2014

The BDI halted its drop this week, fluctuating around the 1100 mark, currently standing at 1091 points. Lunar New Year holidays are over, and Far East is slowly getting back to business.

Lion Shipbrokers Market Report: WEEK 06 – 07 FEBRUARY 2014
09 February 2014 - 23:32

The BDI halted its drop this week, fluctuating around the 1100 mark, currently standing at 1091 points. Lunar New Year holidays are over, and Far East is slowly getting back to business. The psychological barrier of 1000 points has not been broken (yet?), however Buyers’ sentiment remains bullish. Although we have few deals to report this week, we understand that numerous inspections are currently taking place.

Bulkers: Modern caper CAPE SEAGULL (175K BLT 2012 JIANGSU/CHINA) was committed to undisclosed interests for $47 mill (price in line with market). Sinokor’s vintage panamax HANSUNG SUNRISE (73K BLT 1993 HYUNDAI/S. KOREA LDT 10,353 MT) has been snapped by Greek buyers for $7.5 mill, having a Subcontinent scrap value today of about $4.2 mill. In an off market deal, Greek buyers have purchased modern supramax ASIA (57K BLT 2010 COSCO ZHOUSAN/CHINA CR 4X30T) for $22.4 mill. Lomar’s supramax OCEAN PRESIDENT (51K BLT 2001 OSHIMA/JAPAN CR 4X30T) attracted $14.7 mill basis drydocking due, to clients of Omicron of Greece, while two weeks ago, smaller sister NIKKEI PHOENIX (46K BLT 2002 OSHIMA/JAPAN CR 4X30T) went for $16 mill (also to Greeks). Clients of Ikarus of Greece agreed to pay a firm $12.7 mill for late 90’s handymax SLAVNIK (46.5K BLT 1998 OSHIMA/JAPAN CR 4X25T), same price with early January’s sale of slightly bigger unit EILHARD SCHULTE (49K BLT 1999 IHI/JAPAN CR 4X25T) for $12.75 mill.

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

http://www.seanews.com.tr/reports/lionweekly_2014_W06.pdf

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