The capesize bulk carrier, Sunbeam, was committed to cash buyers at $715 per ldt, yielding more than $15m for its owner, understood to be Japan’s NYK. Meanwhile, the aframax tanker, Ion, achieved a price of $708 from cash buyers, GMS said, earning almost $13m, before commissions, for an owner thought to be based in Greece.
However, the firm urged a note of caution in its note, following Saturday night’s vote of no confidence in Pakistan’s Prime Minister, Imran Khan. “It would certainly seem as though these cash buyers are banking on a Pakistan rally in the wake of Imran Khan’s deposition,” the firm wrote, “as these prices certainly do not represent the reality on the ground just yet.”
Activity was quieter elsewhere on the subcontinent. Steel plate prices eased by about $15 per ton in India during the week, GMS said, but prices remain firm, nonetheless. Meanwhile, the start of Ramadan heralds a few weeks of lower activity in Bangladesh and, in any case, many yards are already full with large ships taken earlier in the year.
Turkish activity remains fairly slow, meanwhile, with one cruise vessel arriving in Aliaga last week. The Turkish lira was trading at about 14.7 to the dollar, down from just over 13 at the beginning of the year. GMS noted that most ships leaving EU waters these days belong to owners seeking to capitalise on strong prevailing charter markets.
Indicative prices from GMS show India in the lead with prices firming. Container ships are typically around $690, tankers $680, and bulk carriers $670. Prices in Pakistan, which are also on a rising trend, are ten dollars lower across the board. Meanwhile, weakening Bangladesh prices are another ten dollars down. Corresponding indicative prices in Turkey are $470, $460 and $450.
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