The two charts from VesselsValue below paint their own picture of the comparatively flat S&P market in October. The actual volume of ships changing hands has been low, yet prices remain extremely elevated.

“Bulk prices are not dropping yet, although they probably should., while for tankers we are still seeing buyers for older ships,” comments one Asia-based S&P broker.

In dry bulk, Greeks clearly saw a buying opportunity this month, accounting for around a third of all ships bough...