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Secondhand prices soar

Gap with newbuilds narrows as shipping bull run gathers pace

Following an abnormally strong start for the year for rates in the containership and dry bulk sectors, prices for secondhand tonnage have leapt across the board, noticeably narrowing the gap with newbuilds.

The spread of newbuild to secondhand prices narrows in rising rate environments as there is more financial incentive to have the ship on the water immediately, and the spread widens in soft rate backdrops as the ships are struggling to breakeven.

Secondhand prices started to apprecia...

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