This week ended with BDI closing today at 1,353 points, down by 96 points from the end of previous week and down by 23.7% from the end of 2010, while at similar week in 2010 the BDI was 1,720 points. Capesizes are currently earning $ 11,502/day, a decline of $2,439/day (17.5%) from a week ago. Panamaxes are earning $12,603/day, a decline of $855/day (6.35%) from a week ago,  Supramaxes  $13,292/day,  a  decline of  $64/day (0.5%)  and handysizes  $10,280/day,  an increase  of  $59/day (0.57%) respectively from a week ago.
Overall, the week ended with 36 transactions reported in the secondhand and demolition market, posting a 56.5% increase from 2010 similar week, when 23 transactions had been reported, while the highest activity has been recorded again in the newbuilding market with 47 fresh orders reported worldwide.

SECONDHAND MARKET
In the secondhand market, 18 vessels reported to have changed hands this week at a total invested capital in the region of US$310.5 million, 2 transactions reported with undisclosed sale price. In terms of the reported number of transactions, the S&P activity is up by 38.5% from last week’s activity and at same levels comparable with previous year’s weekly S&P activity when 18 vessels induced buyers’ interest. This week bulkcarriers grasped 61% share of the total volume of S&P activity, and 75.4% in terms of invested capital.

NEWBUILDING MARKET
In the newbuilding market, the ordering business continues to be strong with the bulkcarrier and the container sector once again being in the front line. The ordering activity in the bulk carrier segment kept last week’s pace, while the investments in the container sector show the investor’s belief on the sector. Overall, the week closed with 47 new orders reported worldwide, up by 42% from previous week’s activity and up by 9.3% from similar week closing in 2010 when 43 new orders had reported worldwide. Both the bulkcarrier and container segment attracted 38% each of the newbuilding business, while in terms of invested capital basis to the reveal contract prices (36% of the contract prices has not been revealed), the container segment appears the most overweight representing 49.7% of the total invested capital of 1.37bil.
From the reported orders of this week it is worth commenting that in the bulk carrier segment, all reported orders were made from Far East at Chinese shipyards.
In the container segment, the activity has been on the high side with 18 reported orders. The National Oil company of Abu Dhabi will be investing around usd $ 600mil for 15 sub-panamax units, while Craig Ship management of UK proceeded with the ordering of 3 1,800 units at Jinhai H.I. This order represents the first containerships ordered at this yard and it is being rumoured that the owner holds options for a further 3, 10 and 10 vessels. Unconfirmed rumours mention the order of 4 small panamax vessels (4700teu) from TS Lines of Hong Kong at Hanjin Heavy Indutries & Construction’s Youngdo in Busan at a price of region $ 62 mil each. Although officials from the Hong Kong based company deny the order, in case the order moves ahead, that will mark the “ending” of the yards drought.
Lastly, in gas segment, the orders of two significant players have been reported.  Thenamaris of Greece has moved into its first LNG order with 2 units of 160,000cum at a cost of region $ 200mil each. Additionally Mitsui Osk Lines appears to be ordering for the first time 4 units of 172,000cum in China’s Hudong Zhonghua Shipbuilding, a move that is considered of great significance for China’s LNG carrier export orders.

DEMOLITION MARKET
With the situation in Bangladesh being still uncertain, India attracted most candidates, since 11 out of the 18 vessels headed to the Indian scrapyards, with highest scrap rates achieved for container vessels at region $ 525/ldt. The Chinese market on the other hand continues to be an attractive destination, especially for vessels positioned in the area.
In general the demolition market, the activity increased by 64% w-o-w with 18 vessels reported to have been headed to the scrap yards of total deadweight 401,195 tons. Despite the increase in terms of reported number of transactions comparing to last week’s figures, the total deadweight sent for scrap declined by 52.8%.

GREEK PRESENCE
The week ended with the eight  transactions in total concerning greek investments. In the secondhand market the buying interest was  noticed  in  the  bulkcarrier  and  the  container  sector.  More  specifically,  Greek  investors  appear  to  have  acquired  four bulkcarriers, out of which one was for a 1984 handymax vessel and three post-panamax vessels due for delivery this year, while in the container sector an 8year old vessel of 5,000teu was acquired by Box Ships Inc for $ 55mil , in a deal that included also three year timecharter at $ 28,500/d with an option for one more year at the same rate. In the newbuilding market, Thenamaris entered for the first time the Gas carrier sector by placing an order for two LNG  carriers of 160,000cum each at Samsung of South Korea at a reported contract price of $ 200mil each. The total invested capital for the secondhand market is usd $ 198.6 mil while for the newbuilding investments usd $ 400mil in total.