Ship maintenance has been a major victim of cost-cutting during the severe downturn in the dry bulk market.
Now, some of that poorly maintained tonnage is emerging in the red-hot, secondhand market.
The upshot is that buyers may be making risky purchases in fear of losing out on a deal.
US-based sale-and-purchase broker (S&P) Compass Maritime noted in a recent market report that “some buyers (are) waiving pre-purchase vessel inspections and buying within a few days after the ships were offered for sale.”
Secondhand
