A combination of weaker rates and falling asset values has prompted a major increase in capesize bulker sales by Japanese shipowners.
A total of 12 such ships have been sold in the first seven months of 2023, representing a year-on-year increase of 20%, according to VesselsValue.
“The average age of vessels sold was 15 years and almost all of these vessels were Japanese-built and many were sold with long-term charters attached,” said Rebecca Galanopoulos Jones, content analyst at VesselsValue.
