Japanese-built ultramax values jump

AI Summary

Japanese-built ultramax vessels have seen a surge in value as the Baltic Dry Index hits its highest point in years. This spike reflects a robust demand and active trade activities in the sale and purchase market.

All eyes were on the Baltic Dry Index last week as it breached the 3,000-point barrier, its highest level in years, helping fuel another red-hot week in the sale and purchase market. Lion Shipbrokers reported 16 deals over the weekend, echoing comments from other broking houses, pointing to a strong appetite for 15-20-year-old Japanese-built panamax …