The upswing in mood and prices continued to bear fruit in terms of sales with at least SEVEN market units sold for the week. This improvement has been intricately intertwined with the recovering currency as the Indian Rupee continued it’s firming, having finished the week at INR 51 against the USD Dollar in further positive.

Laskarides continued their clear-out of older reefers with the sale of the MV MONTEVIDEO (4,992 LDT) in the first sale from this sector since the early summer and the conclusion of the high season.

Additionally, ATL shipping Shanghai sold their larger bulker JASMIN (10,328 LDT) for USD 403/LT LDT whilst Chartworld sold another of their capesize bulkers, the 1994 LJK built ERRADALE STAR (22,750 LDT) for a firm USD 420/LT LDT.

By contrast, one East German built bulker (an un-favored country of build) with a steel propeller was sold for a much weaker LISD 393/LT LDT on today's market.

There was also controversy surrounding the sale of the VENUS N (8,152 LDT) which was committed to one buyer for region LISD 418/LT LDT before surprisingly and inexplicably being recommitted to another buyer for a firmer LISD 426/LT LDT! It is understood that an arrest is now pending on the vessel.

Source - GMS Weekly

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