Second-Hand Bulkers Continue Value Surge

Data from Shipping Intelligence and the Baltic Exchange show significant gains in dry-bulk assets.

News ID: 73237

Date: 05 April 2017 - 09:54

According to MANA, Second-hand bulker values took a significant leap in the last month, according to new data released Monday.

New York consultancy Shipping Intelligence said that its index fleet of nine bulkers rose to a combined value of more than $108m, an 8.4% increase from the $99.9m value a month earlier.

That also represents a 59% jump compared to the same time last year.

The rising prices come amid surging time charter rates, with Shipping Intelligence estimating that the same group of ships would have collected a combined haul of nearly $105,000 per day on six to 12-month time charters. That compares to just $85,100 per day on 1 March.

Also Monday, the Baltic Exchange's Sale and Purchase Assessment for capesize bulkers jumped 29.1% in one month.