After the busy moves of the past few weeks, the Indian market could be forgiven for taking something of a breather this week with very few real sales to report their end.

The cash buyer speculation has continued unabated recently, perhaps owing to a traditional seasonal spurt in prices as end buyers get back to the bidding tables after the overall slower summer / monsoon months.

The number of deals concluded over the past few weeks has been in double figures with some pretty impressive (and nigh impossible) prices on show.

There were signs though that several cash buyers had over-extended themselves, as several deals appeared to be failing or facing renegotiation / back-trading on the price.

The most notable of these was the full spares panamax bulker SUBIC STAR (11,899 LDT) - committed to one overly enthusiastic cash buyer last week for USD 450/LT LDT for India (with a 440/LT LDT Bangladesh option) - only to fail to that particular buyer and achieve a (still high) price of USD 430/LT LDT for Bangladesh only delivery.

Source - GMS Weekly

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