A handful of deals concluded into South China indicated a return to some sort of stability for the Chinese market this week.

Two MOL controlled vessels the capesize bulker NIITAKA MARU (21,500 LDT) and the wood chip carrier RAKU YOH (9,022 LDT) were fixed for strong prices for guaranteed green recycling with significant sums of bunkers on board at time of delivery.

The Chinese owned panamax bulker OCEAN MERRY (12,040 LDT) too was concluded direct from owner to yard in the other deal of the week - also with some 400 T bunkers on board as owners look to cut their losses amidst falling fuel prices and lack of cargoes.

An overall lack of capacity continues to haunt the industry though with significant tonnage already concluded to China this year offers for North Chinese yards were few and far between as a result and many yards in the South have now booked themselves with tonnage for the foreseeable future.

Source - GMS Weekly

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