Also the recent rally in local steel plate prices showed few signs of abating.
Another VLCC was reported sold during the week, as sales in the tanker sector continued at pace and owners exploited some of the excellent prices on offer of well above $400 per ldt.
Notwithstanding, we saw vessels from the dry, offshore, and wet sectors all concluded last week, GMS said.
It certainly seems as though there has been a steady flow of tonnage at the moment -rather than a deluge - as keen buyers emerged to negotiate all of the available units at firmer numbers.
However, it does seem as though a price ceiling has been reached, given that Bangladesh was increasingly displaying signs of hesitation to match some of the firmer asking prices in recent weeks and some of the market purchases have been failing to find even breakeven levels in Pakistan at present.
India is the only sub-continent market to remain some way behind its Bangladeshi and Pakistani counterparts, even for favoured container units and primarily it has been only green tonnage - at a significant discount - that this country’s recyclers have been able to acquire of late.
Local steel prices, currencies and demand from the top performing markets did appear to be relatively steady last week, despite steel prices in China and Turkey taking a tumble.
As such, it was another encouraging week for owners, cash buyers and recyclers alike, with plenty of fourth quarter activity anticipated to keep all sides busy, GMS concluded.
Brokers reported that the 1995-built VLCC ‘La Paz’ had been acquired by Bangladesh interests for $415 per ldt, on the basis of ‘as is’ Singapore and gas free.
Another VLCC, the 1999-built ‘DS Crown’ was rumoured to have been committed to unknown recyclers for $395 per ldt, while Bangladesh breakers were thought to have purchased the 1999-built Aframax ‘Karnata Spirit’ for a level not disclosed.