The Namura-built, 177,000-dwt Bulk Singapore (built 2005) from Celeste Holding has been inspected by a number of potential buyers, with Greek owners showing interest and a price slightly less than $10m is expected.
As late as last September, this ship would have a value of $37m, which puts the collapse of values into perspective. The Bulk Singapore was at the peak of the market in June 2008 worth some $184m to $185m.
Shunzan
