Were it not for the strong volume of dry bulk and LPG carriers changing hands then this month would have been deadly quiet on the S&P scene. The fact is, however, as evidenced in the Clarksons graph, the appetite for prompt secondhand tonnage, rather than newbuilds is growing - the dark blue line stretching away from the red one, a sure sign of a bull market.

The VesselsValue Bulker index saw some increase towards the end of August, rising steadily to around $294 per dwt, up 5% from th...