Data provided exclusively by online pricing platform VesselsValue.com shows just how dramatically Japanese owners have been shedding dry bulk tonnage in 2016.

In the first seven months of the year, Japanese owners sold 83 vessels – equating to 6.82m dwt – for a total of US$886.46m. Greece was the second biggest seller in the same period with 71 ships, totalling 4.9m dwt, worth US$521.5m. Japan was also the top seller of bulk carriers in 2015.

The top three Japanese sellers in the year to date have been Sumitomo Corp, Daiichi Chuo and Nisshin Shipping.

Globally, dry bulk sales have accelerated in the first seven months of the year, according to VesselsValue.com with 323 ships equating to 24.4m dwt sold, whereas in the same period last year, 251 ships equating to 19.07m dwt were sold. However, despite the increased volume of sales, the total price for all the bulker sales this year is down on an annual basis.