Dry bulk prices fall in January sales

Recent broking reports reveal that secondhand prices in dry are falling sharply, particularly for Chinese-built tonnage. 

Now, Japanese-built ships have also been spotted on the same downward trajectory.

Clarksons Research reports the first sale in the ultramax segment of the year, revealing that the non-eco, 61,400 dwt Omishima Island has been sold to Glyfada-based F-Maritime. The seller, a Japanese shipowner, Shikishima Shipping, pocketed $19.5m for the 11-year-old Iwagi Zosen-built ship. The ship will bring the F-Maritime fleet list of up to five bulkers. 

A price comparison from September shows that Bangladesh-based SR Shipping tabled  $26.5 m for the two years younger sister vessel Lowlands Amstel, a ship that has since been renamed Jahan Sisters I.

Broker Hartland Shipping described the dry bulk sale and purchase scene as very much a buyers market in its latest weekly report. 

“Given the lack of liquidity and freefalling indices, valuing vessels is becoming an increasingly difficult task as buyers wait to pounce on better priced opportunities in the January sales,” Hartland reported, advising potential buyers: “Opportunism is the name of the game, buyers need to be outright and ready to move on short notice should a seller decide to dispose of their asset at a marked down price.”