If it has felt like capesize bulkers have changed hands at an unusually fast pace this year so far, it is because they have. In fact, the number of deals has hit a record high.
Another deal was reported late last week that shows how prices have firmed for bulk carriers that are more than 10 years old.
Clarksons has tracked a total of 203 bulkers of 17m dwt reported sold in the secondhand market this year.
Twenty-seven of these have been capesizes, which is a record number of deals for these vessels during the first quarter, as Clarksons observed in its weekly report on Friday.
All but six of these capesizes have been aged 10 years or older.
Brokers reported last week that Japanese owner Daishin Senpaku had sold its 181,400-dwt Orange Tiara (built 2012) to undisclosed interests for $35m.
The ship, which was built at Koyo Dock in Japan, is fitted with a ballast water treatment system but no scrubbers.
The reported price is $1m more than a month ago, when Japanese owner Shunzan Kaiun sold a slightly younger Japan-constructed capesize — the 181,400-dwt Kinokawa Maru (built 2013) — to unnamed Greek interests.
Estimated prices for 10-year-old and 15-year-old capesizes have advanced by roughly 18% since the year began.
Clarksons estimates secondhand prices of $43m for 10-year-old capesizes of 180,000 dwt and $28.5m for vessels aged 15 years, according to its latest weekly assessments.
Average earnings for a 2015-built, eco-type capesize have grown by just over 21% since the year began and were estimated by Clarksons at $37,231 per day on Friday.
Prices for capesize resale contracts have grown by almost 6% this year to reach $76m for 182,000-dwt vessels, which is almost $10m more than newbuilding contracts currently. This is the widest differential in price for around a decade, as TradeWinds has reported.
