Photo: VesselsValue

Owners of older, mid-sized car carriers will sell more vessels at distressed prices in the near future.

That is the view of VesselsValue (VV) commercial director Matthew Freeman, who says the sector is not booming despite its small fleet of 832 ships, including newbuildings, carrying the globe's third-biggest export commodity - vehicles worth $775bn per year.

He said: "Distressed sales of mid-sized 10-year-old PCTCs are starting to occur, with the recently concluded deal of the 3,900-ceu Silverstone Express (built 2009), at $17.5m