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Lion Shipbrokers Market Report WEEK 42 – 17 OCTOBER 2014

The BDI slid further to 930 points on Thursday, however this week ended on a happy note as the index today went up by 14 points to the 944 mark, mainly due to the panamax rates (BPI) performance (which have been increasing all week). 

Lion Shipbrokers Market Report WEEK 42 – 17 OCTOBER 2014
17 October 2014 - 22:10
MARKET COMMENTARY 
Bulkers: 
The BDI slid further to 930 points on Thursday, however this week ended on a happy note as the index today went up by 14 points to the 944 mark, mainly due to the panamax rates (BPI) performance (which have been increasing all week). 
The abundance of tonnage for sale continues (about 16 new bulkers hit the market this week); while several candidates have been withdrawn from the market as offers obtained were below sellers’ expectations. 
We have recorded 9 transactions, which include 5 panamaxes, 2 supras and 2 handies. Nineties built panamax prices are softening, while prices for relatively modern (5-7 years old) panamax units remain stable. 
Demolition: 
Although, subcontinent markets remain stable at very healthy levels (mainly due to speculation), we experienced a very slow week, having recorded only one panamax bulker scraped. This is a clear indication that ship-owners are choosing to hold on to their elderly tonnage, hoping for the long-awaiting 4th quarter market recovery. 
China’s demo rates are improving as cash & end-buyers are offering higher trying to attract tonnage and the forecast is positive for the end of this year. Turkish market is stable & thirsty for tonnage however is not competitive enough to attract tonnage.

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

http://www.seanews.com.tr/reports/lion_17_october_2014.pdf


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