Shipowners are holding back in the newbuilding and sale and purchase departments despite the rally in dry and wet market indices.

“The freight market continues to favor the dry bulk segment, moving into six-year highs with few signs of slowing down in the short term,” said Clarksons Platou Securities.

The UK-Oslo brokerage said this is being reflected in the S&P market with higher transaction volumes seen for supramaxes and panamaxes.