Today we celebrate the Saint Nicholas day in Greece, the patron saint of all seamen, and as perfectly described in above verses, market is not as fun as last year, as the BDI is dropping (again) to unsustainable levels. Let's all pray that St. Nicholas will do his miracle and we will soon see the much awaited recovery. Although the market outlook is negative, we have recorded the impressive number of 15 transactions this week (3 kamsarmaxes, 4 panamaxes, 6 supramaxes & 2 handies). As asset values are softening on a weekly basis, we understand that numerous deals are falling through as buyers are walking away, sometimes even forfeiting deposit.
Subcontinent rates have slumped to levels below the $300 per lt mark for bulkers and the prospects are that prices will decrease further.
Lion Shipbrokers' market report week 48- 06_december_2015
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