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Source:Golden Destiny

This week closed with 42 transactions in total reported worldwide in the secondhand and demolition market, up by 17% week on week with a 42% increase of newbuilding activity and 43% decline in the scrapping volume. At similar week in 2011, the total S&P and demolition activity was around 17% lower levels, when 36 transactions had been reported.

Overall, 34 vessels reported to have changed hands at a total invested capital in the region of US$ 430.8 mil, while 4 deals reported sold in private terms.
Bulkcarriers and tankers were the most active sectors representing 35% and 41% in terms of number of deals from the total figure reported. In the bulkcarrier sector, the sales reported are from all sizes, from handysize to very large capesizes, while in terms of age the majority are built from 1996 onwards.

In the newbuilding market, there has been a 42% increase in the volume of new contracts from last week’s activity; however the market remains in low levels.
The most active segments were the bulkcarrier and the special projects representing around 41% each. Overall the week ended with 17 fresh orders reported worldwide at a total deadweight of 945,100 tons,  with the size in terms of deadweight of some orders remains undisclosed. This week’s total newbuilding business is down by 64% from similar week’s closing in 2011, when 47 fresh orders had been reported with bulk carriers and containers grasping the lion share. In terms of invested capital, the total amount of money invested is estimated at region $620 mil with 47% of the total number of orders being reported at an undisclosed contract price.

The scrapping activity remains at low levels with India to be facing challenging days due to the issue of safety which will affect the future of the
activity. In total the week ended with just 8 vessels reported for demolition, 43% lower than last week, while in terms of deadweight the figure this week is 15.6% more, due to the bigger size of vessels headed the scrapyards. All demolition players appeared active while the prices reported are in the range from $ 325-around 400/ldt.

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