Bulkers: Nineties built tonnage values have slightly firmed during the past few weeks mainly due to
correlation to their lightweight. As the Subcontinent scrap market has improved significantly by $20-$30 per
lt, it has pushed respectively elderly tonnage scrap related secondhand values. Buying interest is purely
speculative as the chartering market is not encouraging and remains very weak at historical low levels, with
the BDI below the 600 mark. We recorded an active week with a total of 17 transactions recorded (3
capes, 1 kamsarmax, 4 panamaxes, 1 supramax, 6 handymaxes and 2 handysize).
Demolition: Subcontinent demo rates are firm, standing currently to about $400 per lt for handy &
handymax while paying about $420 for panamax/cape bulkers. Containers are commanding about $420-
$440 per lt (especially preferred by Indian breakers) while tankers are getting $430 per lt (especially from
Pakistan & Bangladesh). As per our records, 37 capers have been scrapped since the beginning of this year,
while we understand from market rumors that 15 more capes are currently under negos to be scrapped within
the next 2 weeks!
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