THE demolition market was the centre of activity last week, with three very large crude carriers (VLCCs) and one Capesize being sold for scrap, according to Wallem Shipbroking (Hong Kong).
On the dry market, it is worth noting that apart from a couple of temporary blips, the Baltic Freight Index has been falling more-or-less constantly since the end of May 1993 to 1,642. This figure represents a 32 per cent drop in the past nine months andthe index is now at its lowest level in over 16 months, Wallem noted.
In the tanker market, the turbine Suezmax tanker Kavkaz (150,500 dwt), built in 1977 by Zaliv, is believed to have been sold for US$6.3 million to Vietnamese buyers who will use the vessel for storage purposes.
The German-controlled chemical tanker Robert (3,679 dwt), built in 1979 by Lindenau, is reported to have been sold for $3.5 million to undisclosed buyers.
The German controlled handysize Menina C (33,037 dwt), built in November 1982 by Minami, has been sold to Teo Shipping of Pireaus for $10 million.
Turkish buyers are rumoured to have purchased the Polish-built Panamax Berge Charlotte (70,510 dwt), built in 1984 by Komuny Paryskie, at an undisclosed price.