Sales and speculation ramped
up another notch this week as several extraordinarily high-priced deals were
concluded (primarily) into the bullish Pakistani market. Of the vessels sold,
Sinokor of South Korea have now fixed their sixth unit of the year (all concluded
within the space of the last couple of months) as the Korean market has started
to offload Capesize bulkers at a tremendous pace (due to the expiration of
various government charters).
Meanwhile, on the local
markets front, on the back of the repeat tragedy onboard the FSU ACES a couple
of weeks ago, the Pakistani market remains (seemingly indefinitely) closed for
tankers. Moreover, the firming dry and container freight rates (of late) have
in turn led to an excruciating dearth of potential units (especially when
compared to the years gone by) from these sectors.
Notwithstanding,
fundamentals remain firm overall and we may well experience some buoyancy
across all sub-continent markets as the year-end approaches – a time that has
traditionally been an active period in the ship recycling industry as Ship
Owners are looking to sell off their aging assets in order to balance their
books.
For week 47 of 2017, GMS
demo rankings / pricing for the week are as below:
Source: hellenic
shipping news. 28 November 2017
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