MARKET NEWS/ RUMOURS
Its Saint Valentines’ day today, however the charter rates have not shown any “love” for one more week.
The BDI is still fluctuating around the 1100 mark, currently standing at 1106 points. This is not discouraging buyers out there (especially Greeks), as we have picked up numerous sales and inspections lined up;
Bulkers: Three panamaxes changed hands this week at firm levels; Greek buyers have purchased Taiwanese built GIUSEPPE RIZZO (77K BLT 2004 CSBC/TAIWAN) for $18.2 mill and three year older but Japanese built ORSOLINA BOTTIGLIERI (75K BLT 2001 HITACHI/JAPAN) for $18.5 mill. At an auction in New Orleans, the highest bid for Chinese built panamax UTOPIE (75K BLT 2008 HUDONG/CHINA) was a firm $23.75 mill by undisclosed interests. In an off market deal, prompt resale supramax AMIS ELEGANCE (55K DELY JAN 2015 KAWASAKI/JAPAN CR 4X30T) attracted a solid $31 mill, commanding a premium of $2-$3 mill compared with Chinese built units.
Demolition: The Subcontinent market is stable at healthy levels, making demolition a very attractive option for older tonnage out there; India remains bullish attracting the majority of ships for one more week. China is back to business, paying soft levels in the low-mid $300, while Turkey has also softened, still paying levels in excess of $300.
Its Saint Valentines’ day today, however the charter rates have not shown any “love” for one more week.
The BDI is still fluctuating around the 1100 mark, currently standing at 1106 points. This is not discouraging buyers out there (especially Greeks), as we have picked up numerous sales and inspections lined up;
Bulkers: Three panamaxes changed hands this week at firm levels; Greek buyers have purchased Taiwanese built GIUSEPPE RIZZO (77K BLT 2004 CSBC/TAIWAN) for $18.2 mill and three year older but Japanese built ORSOLINA BOTTIGLIERI (75K BLT 2001 HITACHI/JAPAN) for $18.5 mill. At an auction in New Orleans, the highest bid for Chinese built panamax UTOPIE (75K BLT 2008 HUDONG/CHINA) was a firm $23.75 mill by undisclosed interests. In an off market deal, prompt resale supramax AMIS ELEGANCE (55K DELY JAN 2015 KAWASAKI/JAPAN CR 4X30T) attracted a solid $31 mill, commanding a premium of $2-$3 mill compared with Chinese built units.
Demolition: The Subcontinent market is stable at healthy levels, making demolition a very attractive option for older tonnage out there; India remains bullish attracting the majority of ships for one more week. China is back to business, paying soft levels in the low-mid $300, while Turkey has also softened, still paying levels in excess of $300.
CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:
http://www.seanews.com.tr/reports/Lion_Weekly_Report_2014_W07.pdf