Secondhand bulk carrier prices are firming despite a week of softening spot rates. Buying interest is increasingly focused on smaller tonnage.
Clarksons Research noted in its most recent weekly report that activity is primarily in the kamsarmax down to the panamax sectors.
Prices have leapt since December. A notable sale that illustrates the price increase is the sale of the 2010 Japanese-built kamsarmax, Key Evolution. This ship fetched $14.7m in December, but failed and is now sold for one million more.
In a comparable deal, the 2012-built, 78,000-dwt, Coral Amethyst has been sold for $16.3m, $1.8m more compared to the December sale of the same age but also ballast water treatment system fitted sister ship, Coral Amber.
In the upcoming week, Chinese buyers are expected to be the most active bidders, as they are eager to conclude a string of transactions prior to lunar new year celebrations.