In May, 2013, as freight rates of Chinese bulker and PC declined, the value of second-hand vessel also dropped with the number of deals decreasing as well.
The average Shanghai Ship Price Index (SPI) was recorded at 782.36 points in May, slightly down by 0.39% from the previous month.  
According to data from China Shipping Information Systems, second-handed vessel trading in China took place for a total of 360 vessels of a combined 535,800 dwt, with the price of CNY 863m ($141m), showing month-on-month declines of each, 21.23%, 21.07%, 38.52%, in May.
In addition, during the same time, second-handed bulker trading was carried out for a total of 280 units of a combined 440,608 dwt with the price of CNY 631.38m that the figures showed a decline of 6.35%, a 14.49% increase and a 68.43% increase, respectively.
Meanwhile, second-handed tanker trading took place for 11 vessels of a combined 16,550 dwt with the price of CNY 69.62m, each showing declines of 57.69%, 88.71% and 86.61% in May.