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Thursday, 8 March 2012

GMS demolition prices week 09 2012

GMS demolition prices for week 09 - 2012 are as follows

India---------------Weak----General cargo prices----USD470/lt ldt----Tanker prices---USD 500/lt ldt
Pakistan----------Weak----General cargo prices----USD465/lt ldt----Tanker prices---USD 495/lt ldt
Bangladesh------Weak----General cargo prices----USD450/lt ldt----Tanker prices---USD 480/lt ldt
China--------------Bullish---General cargo prices----USD415/lt ldt----Tanker prices---USD 435/lt ldt

The Korean owned chemical tanker SEAHAN BAYSTAR (3,042 LDT) went for a huge 702/LT LDT
with 291 T of solid stainless steel on board (the value item as opposed to cladded stainless steel).

Following the sale of the MA7 KOTA ABADI late last year, PIL of Singapore continued their clear out
of older tonnage this week with the sale of tlie KOTA MACHAN (4,660 LDT) for a firm USD 485/LT LDT.

Finally, after the first deal had failed to overly bullish cash buyers, the SHAO SHAN 1 (with spare propeller)
was resold for an incredible L'SD 490/LT LDT the decent size and spares would have been responsible
for the high (yet questionable) price on show.

The seemingly never-ending supply of vessels wall presumably force the market further down in the coming
weeks despite the fact that the steel price remains firm and the currency is showing some signs of stabilizing.

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