It is widely believed that Greek buyers acquired the 81,300-dwt Flora Island (built 2012) for roughly $18.4m.
The price tag is approximately $2m lower than what the VesselsValue.com portal thinks the ship is worth in today’s market.
In a client briefing Erik Nikolai Stavseth of Arctic Securities agreed that the transaction points to further declines in asset values.
He also noted the deal follows the sale of the 84,100-dwt A Max (built 2011), which commanded what the analyst described as a “solid discount” when it changed hands earlier this month.
“As there were some factors suggesting a discount for the ‘A Max’, we see the ‘Flora Island’ as a better benchmark of where the market actually is,” Stavseth continued.
“At the same, the dry-bulk secondhand market remains depressed with values under pressure from freight markets at all-time lows.”
You can read more about the sale of the Flora Island in the latest edition of TradeWinds, which can be accessed in full by CLICKING HERE.
