As bulker prices are at highs not seen for more than a decade, a pattern is emerging where smaller owners scramble for all available tonnage while larger owners sell.
A string of owners has joined the sales wagon, with German powerhouse Oldendorff Carriers being one of the most active sellers, selling three Chinese-built 13-year-old post-panamaxes, Christine Oldendorff, Charlotte Oldendorff and Conrad Oldendorff.
Conrad Oldendorff fetched $16m from Greek outfit MPP Carriers, a low-profile Greek player. The takers of the other ships are still to be disclosed.
According to Clarksons Research, secondhand bulk carrier prices are at close to the peak experienced in the wake of the global financial crisis.
Secondhand bulk carrier prices are up by 85% since the start of 2021, jumping notably since last October.
“This upward trend is likely influenced by the limited newbuild deliveries comparing to the past, the investor optimism for a long-term rebound in freight rates and the asset diversification, as many owners are looking to spread their portfolio across different vessel segments,” Greek broker Xclusiv noted in a recent report.
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