Dry bulker asset values took another hit this week, with two panamaxes sold lower than expected.
Brokers say South Korean shipowner Joong Ang Shipping was taking bids for 1994-built, 70,196 dwt Eastern Queen at price levels around $11m. Shipbroker Galbraith’s reported that the ship had finally been fixed at $10.9m to an undisclosed party.
Brokers also reported the sale of Japanese Sato Steamship’s 1995-built, 69,058 dwt Fair Win d for $10.5-$10.8m to an undisclosed Greek party.
Both sales are well below reported current valuations for the two panamaxes, which stood at $11.8m and $12.4m respectively on Monday, according to VesselsValue.
The figures paid represent a 16%-19% decline over the last deal completed, the $13m sale of 1994-built, 68,591 dwt Hellenic Sky, completed a month ago.