The sales activity has kept up well since last month and the values have increased even further, again supported by the availability of longer period t/c deals. Modern Panamax a.nd Handymax bulker carriers have been in big demand and a number of sales have taken place. Indian buyers have been very active, having picked up four modern Handymaxes and a somewhat older Panamax.
Fueled by high newbuilding prices and a strong chartering market, prices for all types of modern double hull tonnage have reached "all time high". Buying interest remains firm by owners who don?t need high leverage financing and therefore with few sales candidates around we don?t see any reason why the much talked about ?credit crunch? shall influence the prices for these segments. For older tonnage the situation is the opposite and if it was not for the conversion buyers and record high demolition prices for tankers, prices would most likely have been under a lot of pressure.