Amid shipping market still staying in the doldrums, sale and purchase activity in China has slightly increased.
According to the Ministry of Transport of China (MOC) on November 13, China Secondhand Ship Price Index (SSPI), during October 27-November 9 period, stood at 795.65 points, up by 1.61p from October 13-26.
Five-year-old 5,000-dwt bulkers are the most popular vessels among buyers. They demand CNY 7m-8m ($1.1m-1.3m) for these vessels.
There are some buyers who want to buy 10,000-20,000 dwt bulkers, however, shipowners are hesitant to sell them since buyers ask too lower prices.