Japanese tonnage providers in the dry bulk space may have flooded the market with cut-price bulkers for most of 2020, but signs are emerging they are opting instead for shorter duration time-charters in the hope that vessel values will increase going into 2021.

Broking sources in Asia said on Friday that Miyazaki Sangyo Kaiun’s 82,100-dwt Energy Triton (built 2012) was withdrawn from sale and the Oita-based company was lining up a 12-month time charter for the bulker.

According to one broker with knowledge of the activity surrounding the vessel, Miyazaki Sangyo put the ship on the sales block several months ago, but over the past month had shifted focus towards fixing it out on a time charter.