Tanker prices firmed noticeably throughout June with MRs in particular demand, while dry bulk took a breather, largely thanks to the Japanese withdrawing from the S&P scene.

“It seems there is more and more dry tonnage coming to the market from European owners who want to cash in on good S&P values,” one Asia-based broker tells Splash Extra. Owners are worried, he says, that if the paper sell-off continues, prices will drop.

Secondhand dry bulk pricing has been kept high by limi...