Few of the favored Bangladesh units (such as capesize bulkers and suezmax
tankers / VLCCs gas freed for hot works) limited the opportunities of the local
market to show their true colors this week. Indeed the onlv market sales
concluded saw the smaller handysize bulker ALKAR (7,856 LDT) fixed for a
marginally strong USD 410/LT LDT.
The lack of available buyers with strong lines of credit has also been an
issue at the start of this year, with cash buyers having to be doubly sure that
the end users they are dealing with have the capacity to open and release valid
letters of credit on time.
For that reason, with many of the larger buyers taken up with vessels
already purchased, those that remain cannot be entirely trusted to perform
satisfactorily on arriving units.
Source: steelguru. 26 February 2013
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