NYSE-listed Star Bulk has sold another capesize bulk carrier for $23m to an unnamed Greek buyer, according to brokers’ reports.
The five-year-old Obelix, which was built in Japan, was today reported sold at a price that reflects that capesize values have hit hit their lowest level in over 24 years, according to analyst estimates.
VesselsValue.com (VV) estimates a five-year-old capesize’s current market value is just $23.87m, just over 60% less than the long-term average value of $61.76m, calculated since January 1, 1992.
A five-year old cape would have been worth around $50.65m in May 2014, VV told Splash.
Star Bulk has sold eight of its capesize newbuildings during the past two months, leaving 10 more and one 200,000-dwt super-cape under construction, mostly in China.
On January 21, Star Bulk confirmed the sale of a capesize being built in Japan for $37m. Brokers named the vessel as the 180,000-dwt Megalodon and the buyer as Eastern Pacific Shipping.