In a client briefing Lion Shipbrokers shed light on the price paid for the 175,700-dwt C Prosperity (built 2011) but acknowledged that the identity of the buyer remains unclear.

The price tag is approximately $5m lower than what Compass Maritime Services believe five-year-old capes are worth in today’s market.

When speculation about the sale of the C Prosperity first began to surface last month many said they were surprised to learn that the unit might command just $30m.

In a note to investors Erik Nikolai Stavseth of Arctic Securities pointed out that the unit was being circulated for sale in April of last year. At the time, the proposed price stood at $46m.

He argued that the difference between this figure and the more recent quotation illustrated how far asset values have fallen over the last six to nine months.

At last check the C Prosperity was on an index-linked time charter with Oldendorff until December of next year.

“This, combined with being built in China, could explain some of the discount to our value estimate, but the indicated price still points to values below our latest estimates,” Stavseth added.

While some experienced sticker shock others, like industry veteran Sydney Levine, saw the proposed price of the C Prosperity as further evidence that the life span of valuations in volatile markets are very short.

“It’s possible that the C Prosperity was worth $36m a few days ago [but] that is no longer the case,” he told TradeWinds at the time.

On 22 January 2015 Levine performed as assessment that suggested the vessel was worth approximately $32.6m. A copy can be found under the Related Media section of this article.

“I believe this valuation makes the $30m price for the C Prosperity less shocking,” he added.

At the time, capes trading in the spot market were seeing day rates of approximately $8,800. Today, the same type of tonnage is fetching roughly $5,300 per day on average.

When the C Prosperity made TradeWinds headlines last year, talk that the cape was for sale ignited a debate about the identity of the owner, which remains unclear.

VesselsValue.com believes it is China Merchants Energy Shipping, which is an affiliate of diversified Asian conglomerate China Merchants Group.

According to the Clarksons Shipping Intelligence Network database the C Prosperity is one of two capes controlled by a company called CMG Maritime Group Ltd (CMG).

A spokesman for the firm claims CMG is a privately-owned company unrelated to China Merchants or its shipping affiliate.

Attempts to reach China Merchants and Oldendorff about speculation surrounding the C Prosperity were not immediately successful at the time of writing Friday.