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Bulk buying interest heats up

Owners are waiving inspections for dry bulk carriers, a surefire sign of a firming market

It has been a hectic February in the world of S&P as owners scramble to get dry bulk bargains in place ahead of a perceived long rally in rates. Prices for secondhand bulk carriers are going up, and many think they will continue to do so.

The S&P panel reporting to the Baltic Exchange gave a thumbs up to five-year value reassessments on Friday. Capesizes were reassessed at about $$33.5m, kamsarmaxes at $23m, supramaxes on $16.4m and handysizes now assessed at $15.2m.

“The dry sale...

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