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Sellers of large bulk vessels under severe pressure

The Capesize fire sales from the major dry bulk carriers have, according to Pareto, seen the lowest prices so far registered during the long-lasting crisis. And we have not reached rock bottom yet, writes the Norwegian brokers.

Photo: Norden

A mere USD 33-34 million. This is what the New York-listed dry bulk carrier Scorpio Bulkers took home per vessel when the struggling company continued its Capesize fire sale over the holidays - unloading a total of five ships.

According to Norwegian broker agency Pareto Securities, this price is the lowest that has been registered so far during the long-lasting crisis in the dry bulk industry, which could get even worse in 2016. Pareto notes that current broker assessments indicate a further decline of 5-8 percent.

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