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GMS weekly report on Bangladesh ship breaking industry for WEEK 12

Steel News - Published on Tue, 25 Mar 2014

The demand for lower LDT units persisted into this week as another couple of sales of handysize bulkers were concluded.

The G Bulk controlled ARIADNE (7,198 LDT) fetched an incredible USD 475/LT LDT from an unknown cash buyer (always a risky business with new and obscure names with no track record on performance). The suspicion is that the concerned cash buyer may look to trade the vessel with one or two cargoes as this price does not seem obtainable at all in today’s market.

The HONG KONG PEARL (7,320 LDT) was sold for a far more reasonable USD 450/LT LDT with a USD 10 per LT LDT premium due for the 250-300 T bunkers that the vessel will deliver with.

For the time being, it appears Bangladeshi buyers (like in India) are focusing on smaller LDT vessels and are paying a premium for the same. Many of the larger LDT buyers have already booked and beached vessels this year and will need another cycle before they come back aggressively into the game. Topping things off is the shortage in supply of larger LDT vessels (other than on containers) at present as well.

Source - GMS Weekly

(www.steelguru.com)

Posted By : admin on Tue, 25 Mar 2014
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