A market that has been starved of tonnage for the past few months suddenly roared back into action this week with prices pushing on by some USD 20-30/LT LDT at least.
It is now becoming increasingly feasible for owners to send geographically positioned vessels into the Chinese market particularly with Bangladesh still so uncompetitive at present.
The one market deal for the week saw the 9,705 LDT bulker INDRANI sold for a very firm USD 355/LT LDT into South China.
Demand and enquiries began to pick up markedly and it could be an interesting few weeks in the Chinese market - particularly with Eid holidays to contend with, in Bangladesh and Pakistan coupled with the impending Diwali festival in India.
|Vessel Name||Type||LDT||Reported Price|
|INDRANI||Bulker||9,709||USD 355/LT LDT|
Source - GMS Weekly