SECONDHAND MARKET
In terms of S&P activity, the week ended with 51 sales reported in the secondhand and demolition market posting a 16% positive w-o-w change. The highest activity has been recorded again in the newbuilding market with 37 orders.
Overall, 32 vessels reported to have changed hands this week at a total invested capital in the region of US$ 402 million. In terms of the reported number of transactions, the S&P activity has been marked with a 23% positive w-o-w change, while is up by 39% comparable with previous year’s weekly S&P activity when 23 vessels induced buyers’ interest with bulk carriers grasping 26% share and tankers 52% of the total volume of S&P activity. In terms of invested capital, the most overweight sector for this week is the tanker segment grasping 47% of the total amount of money invested.

NEWBUILDING MARKET
In the newbuilding market, after almost three weeks of intense activity the ordering sentiment has cooled off in the bulk carrier segment with containers looming as the protagonists of the newbuilding scene. The week ended with 37 units reported on order, equalling to a total deadweight of around 3,2 mil tons, representing a 43% negative w-o-w change. The total invested capital of this week is more than $2,2 bn of dollars with containers grasping the 62% share of the total ordering activity. The offshore segment has been on the sidelines, while no ordering interest has been revealed for the gas carriers. However, market holds an optimistic view for further newbuilding business in the LNG or LPG segment.
At a similar week in 2010, the newbuilding activity in the dry bulk and tanker segment was up by 55% and 60% respectively, while it now seems that the shipyards worldwide are trying to being evolved in the construction of more specialized units as the eager appetite for bulk carriers and tankers has faded out, although several spikes of activity has been recorded in some weeks.

DEMOLITION MARKET
Although there were fears during the last days that the Bangladesh Enviromental Lawyers Association will show resistance against the recent lifting of vessels' ban for scrapping, hungry buyers in Chittagong continue their purchases. Scrap prices in India remain firm at $500-$520/ldt for dry and $530-$540/ldt for wet tonnage, while Bangladesh levels are still not so competitive that the owners will risk sending their vessels for scrapping in Chittagong. China still tries to compete with its rivals at the low levels of $445/ldt for dry and $465/ldt for wet tonnage, while Pakistan is still on the sidelines paying less than India and Bangladesh and with no success for securing some more tonnage. Thus, India drives the market for one week more; as there is still uncertainty in Bangladesh and the temporary spike in levels do not yet offer comfort for the vessels’ beaching.
The scrapping spree for capesize tonnage continues with two more large units heading to the scrap yards this week. The demo deal grasping the headlines of this week is for a VLOC “ALSTER N” 305,000dwt of 41,500 ldt fetching $510/ldt in Bangladesh. In general, bulk carriers seem to dominate the demolition scene due to sharp volatility of the freight market.
The week ended with 19 vessels reported to have been headed to the scrap yards of total deadweight 1,396,745 tons. In terms of the reported number of transactions, the demolition activity was almost the same however in terms of deadweight sent for scrap there has been a 78% increase. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker sector by India for a tanker of 28,750dwt “WASEL” at 568/ldt.  India this week attracted almost 58% of the total demolition activity. Comparing to a similar week in 2010, demolition activity has been decreased by 13.6%, when 22 vessels had been reported for scrap. China was leading the game by paying $400/ldt for dry and $425/ldt for wet cargo and Bangladesh was offering just $325/ldt for securing dry and $410/ldt for wet cargo.

GREEK PRESENCE
The week ended with the little activity by Greek investors. In the secondhand market just one transaction has been reported of a panamax bulkcarrier, while in the newbuilding market Eastern Med. Maritime contracted 3 more 1700teu containers. The total investment of the Greek presence is calculated at region $ 31.5 mil in the secondhand market and $ 90mil in the newbuilding market.