ShippingWatch

Dry bulk asset values rattling down day by day

Prices in the second hand market and the shipbreaking industry are so low that many owners could soon be in trouble, according to a new update from Intermodal Weekly Market Report.

Ship asset values in dry bulk are dropping day by day, and unless the second hand market changes significantly most players will end up in trouble, says Intermodal Weekly Market Report in its latest update:

"Any new deal surfacing the market is at significantly lower level compared to the previous last done. In this respect, some owners are accepting these new discounted levels, accepting the new asset level reality, whereas others prefer to withdraw their ships or chose to wait, hoping to find more eager buyers who can pay their aiming levels."

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