Capesize bulker values have come under the gun in an increasingly turbulent market.
Reports of a Japanese-built resale changing hands at a 15% reduction from current levels ignited industry buzz, prompting speculation that players in the sale-and-purchase arena have not yet seen rock bottom.
Cyprus Maritime of Greece has been tagged as the buyer of a Sanko Steamship newbuilding in a deal that is believed to have been sealed at $43 to $45m.
If talk proves true, the price implies a fall of almost three quarters from what the same ship would have fetched at the height of the market in 2008.
“I presume that if the transaction is real, and I have seen it in a couple of broker reports, it means asset prices are falling fast,” noted one US broker.