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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES


The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is pretty obvious; any additional supply is hurting the market’s chance of a recovery in rates, with the dry bulk industry’s main benchmark, the Baltic Dry Index (BDI) having nosedived for 35 straight session, losing more than 55% of its value back in late May.

As a result, some owners have even pulled out some of their vessels from the market. With June proving to be a rather challenging month in terms of vessel earnings, older carriers could have  been led to scrapyards for sale, given the higher offers their owners could receive. Still, as the latest monthly demolition report from shipbrokers Golden Destiny indicates, last month saw the sale for scrap of 79 vessels with a total deadweight of 1,605,994 tons, a negative monthly change of 22.5%. Market analysts who spoke to Hellenic Shipping News Worldwide earlier said that one reason for that, was that older dry bulk vessels, could still earn good profit in the spot market, holding their rates better than their modern counterparts.
Source:
Nikos Roussanoglou, Hellenic Shipping



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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
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Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
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Saturday, 12 June 10
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The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...


Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...


Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK Handy Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect  some  fresh  enquiries  f ...


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