The sign shipping has clocked onto a major bullrun is when prices for secondhand tonnage surpass newbuild prices - owners desperate for prompt tonnage will pay over the odds for ships with a shorter lifespan. That moment was met about eight weeks ago (see chart below), and the interest in sourcing all types of secondhand tonnage remains firm in July, albeit with the total volumes of concluded deals easing off a little.
“We have been waiting for the summer lull to hit and it hasn't. We stil...
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