Clients of Turkey’s Densay Shipping are said to have bought a Japanese-controlled ultramax at a price far above last-done levels, in a deal that highlights the steadily improving bargaining position of sellers in the bulker sale-and-purchase (S&P) market.

Turkish buyers acquired the 61,200-dwt Western Narvik (built 2014) for $17.2m, several brokers say. Some identify Densay as the buyer. The company, which is known as a third-party operator, did not respond to a request for comment by the time of writing.

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