As the lowliest of the Indian sub continent markets, it was another difficult week of decline and fall in Alang as cash buyers and owners struggled to get their vessels delivered at previous high prices.
Several as is deals with Indian hallmarks were however concluded by bullish cash buyers.
The Tsakos container vessel MSC BRASILIA achieved an extraordinary USD 442/LT LDT as is Singapore with 350 T bunkers ROB at the time of deliver. Bearing in mind, delivered containers are not even able to achieve this price; it was indeed a very brave and speculative move by the concerned cash buyer worth keeping an eve on!
By contrast the full spares Tanker built in Sweden PROVIDENCE obtained a bargain USD 400/LT LDT as is Singapore with 150 T bunkers ROB.
It is worth noting though that both of these deals could emerge as candidates for either Bangladesh (for both tanker and container) or Pakistan. At the end of the day, breakeven/positive prices will dictate the destination shores on which the respective cash buyer will eventually decide to head to.
Market sales reported –
USD 442/LT LDT
(‘as is’ Singapore incl 350 T bunkers)
USD 400/LT LDT
(‘as is’ Singapore with 150 T bunkers)
Source: steelguru. 25 December 2012http://www.steelguru.com/indian_news/GMS_report_on_India_ship_breaking_industry_for_WEEK_51_2012/296284.html