A small spike in steel prices (by around
USD 5 per LT LDT) saw few Bangladeshi buyers with free plots jump back into the
buying with renewed optimism.
Some impressive numbers were therefore
seen on small to mid-range units ranging from 5 to 12,000 LDT with several
buyers even emerging for some of the smaller LDT general cargo units on offer
(thus drawing them away from Far East demo markets such as China).
Having seen much of the tonnage in recent
weeks evade their clutches, it was perhaps only natural to see Bangladeshi
buyers emerge once again with perhaps the only surprise being the absence of
the larger tonnage buyers in favor of the usually less fashionable lower LDT
units.
Consequently, the TBS controlled handymax
bulker ALABAMA BELLE (8,178 LDT) achieved an extraordinary USD 481 per LT LDT
(less comms). The USA ownership, good cargoes, and almost 500 T bunkers
remaining on board upon delivery were responsible for the impressive price on
show.
Source:
steel guru. 12 March 2014
http://www.steelguru.com/international_news/GMS_weekly_report_on_Bangladesh_ship_breaking_industry_for_WEEK_10/334673.html
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