The sheer volume of tonnage in the market pushed cash buyers to the limit this week with a number of vessels concluded and yet more proposed.

The good news though is that all sub continent markets are back to the bidding at reasonably healthy numbers once again. Bangladesh too is clearly back in the scene, having a number of vessels presently idling at anchorage and several more beached last week.

Finally, Chinese buyers were there to provide competition post New Year holidays, although not at levels of the previous few months, to the surprise of many. But with many yards already filled following their pre New Year binge on units, China's lethargy was anticipated this week.

Traditionally considered a busy time of the year, with budgets on the horizon, this year has proved no different as vessels of all types and sizes (both dry and wet) remain available for purchase amidst dreadful chartering rates. If the current activity persists, there is some doubt as to whether levels will hold up logical supply and demand fundamentals suggest they might not.

Nevertheless, there are sure to be plenty more highs and lows for the year and with all markets now back competing for tonnage, that can only be a good tiling.

For week 05 of 2012, GMS demo rankings for the week are as below:

(Sourced from GMS Weekly)