Hold on to your hat Bob. Ship demolition prices are extremely volatile and can fluctuate considerably week on week. The supply of tonnage and local steel plate prices have a huge effect and just because prices have improved this week doesn't mean that they will continue to improve. It's a messy situation for sellers who comnitted ships at, say, $300/ldt 3 weeks ago then finding that upon delivery today buyers are reneging on deals because the demo prices and steel plate prices have suddenly dropped. Classic case is the VLCC A Elephant which was comitted in August for $750+ per ldt, failed, was recomitted at around $700/ldt, but when the vessel arrived at Chittagong, prices had dropped so much that the buyers tried to renegotiate. The sellers obviously decided that thay didn't want to receive some $300/ldt less than what was agreed, so they promptly decided to refix the vessel for trade. Then the buyers had the ship arrested......