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Markets > Market Reports > S&P Dry Cargo > Sentiment across the sector remains low... Archive:
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Sentiment across the sector remains low...

13 February 2012

It has been a quiet week in terms of concluded sales, with little to report. Sentiment across the sector remains low with most buyers who have the necessary funds in place still opting to sit on the side lines in the hope that prices fall further.

The only real activity to report has been in the Handysize and Handymax sectors.

Korean shipyard, 21st Century, has managed to dispose of the last of their cancelled Handysize bulkers. Undisclosed buyers have purchased Hull 1004 namely, “POSEIDON” (34,000 dwt, built 21C Shipbuilding, 2012, C4x30t) for a price rumoured to be $22m. Back in September/October of last year clients of Transman, Greece purchased a sister ship for a price in the region of $25-$26m.

Lastly, two older units have managed to find further trading buyers this week. “AFRICAN ZEBRA” (38,623 dwt, built CSBC, 1985, C4x25T) has been sold to undisclosed buyers for $4.2m and “MAGIC FORTIS” (42,512 dwt, built Mitsui, 1985, C4x25t) is understood to have changed hands for a price in the region of $4m.

© Clarkson Research Services Limited 2014