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| PostTime:2010-03-09 07:41:45.0 View:15 |
| Shipowners retained an appetite for buying bulkers during February amid expectations prices will hold firm in the short-term. Fiftyeight bulkers were sold last month despite holidays in the Far East, only just short of the 61 which changed hands in January, according to figures from N Cotzias. After watching 120 bulk carriers traded in the first two months of this year, the Greek broker said: "Freight levels have sustained investments at today's price levels. "Many owners have rushed to get some deals these past two to three months as they believe ship prices will not go seriously down over the next short to medium term period." China remains the leading buyer of bulkers this year, taking in 46 ships worth $774m. Greek owners are the biggest spenders shelling out $812m for 32 units, according to the Cotzias report released last week. After a storming January tanker sales fell away during February. Only 35 were sold compared with 60 in the previous month. Cotzias says Lunar New Year holidays were to blame for the fall. And with prices down by around 60% year-on-year there is still a chance to pick up a bargain in the sector, the broker says. Overall 116 vessels were sold in February compared with 146 in January, the Cotzias report says. |
| Source:Tradewinds Author: Andy Pierce in London |
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